Microeconomics 18th Edition by Campbell McConnell, Stanley Brue, Sean Flynn

Exercise 11

Calculate total-revenue data from the demand schedule in question 2. Graph total revenue below your demand curve. Generalize about the relationship between price elasticity and total revenue.
Reference question 2 Graph the accompanying demand data, and then use the midpoint formula for E d to determine price elasticity of demand for each of the four possible $1 price changes. What can you conclude about the relationship between the slope of a curve and its elasticity Explain in a nontechnical way why demand is elastic in the northwest segment of the demand curve and inelastic in the southeast segment.