Qthe demand schedule for sugar isprice quantity

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Reference no: EM13354567

Q. 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?

Reference no: EM13354567

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