The demand function in the accompanying table is QXd = 100 2PX. Based on this information, when:

5.1. QX = 80, the price, PX (point A); 5.2. if Px = $30 QXd =(point B), 5.3. compute the own price elasticity of demand when PX = $25 (point C), and 5.4. compute the total revenue when QX = 20 (point D)

Price of Good X

(PX)

0

5

A

15

20

25

30

35

40

45

50

Quantity of Good X

(QX)

100

90

80

70

60

50

B

30

20

10

0

Own Price Elasticity

0.00

0.11

0.25

0.43

0.67

C

1.50

2.33

4.00

9.00

-

Total Revenue

0

450

800

1050

1200

1250

1200

1050

D

450

0