The demand schedule for sugar is what happens to total, Ask an Expert

Economics

The demand schedule for sugar is:

Price Quantity Demanded
(dollars per kilogram) (millions of kilograms per year)
3 20
5 16
7 12
9 7
12 3

a) What happens to total revenue if the price of sugar rises from $3 to $7 per kilogram?
b) What happens to total revenue if the price rises from $7 to $12?
c) At what price is total revenue a maximum?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M951252

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