Refer to the demand schedule below.
(a) Use the demand schedule to calculate total revenue and marginal revenue at each quantity.
(b) Plot the demand, total-revenue, and marginal-revenue curves.
Instructions: Round your answers to 2 decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers.

Price Quantity Demanded Price Quantity Demanded
$7.00 0 $4.50 5
6.50 1 4.00 6
6.00 2 3.50 7
5.50 3 3.00 8
5.00 4 2.50 9

Explanation:

Demand can be defined as the total quantity of a particular commodity which a consumer is willing and able to buy at a particular price and a particular time.

A demand schedule is a tabular representation of the total quantity of a particular commodity which a consumer is willing and able to buy at a particular price and a particular time.

Below is an attachment showing the tabular representation and the solution to requirement A

In the first Attachment all that was done was to use the values from the question to get our requirements Total revenue was gotten by (Price * Quantity)

Marginal Revenue was gotten by finding the Change in Total Revenue divided by Change in Quantity

So also a tabular representation of B

All that is required to plot the graph is to match the values gotten to the Y axis which represents revenue and X axis which represents quantity and connect the lines together.

Attached graph

Explanation:

Marignal revenue is the additional revenu generate per unit.

While Total revenue is the total amount (P x Q generated)

d. low interest rates

answer; empowerment and collaboration;