2. Economics
3. fill in blanks in the table below with the given...

# Question: fill in blanks in the table below with the given...

###### Question details

Fill in blanks in the table below (with the given equation, marginal revenue is not stated nor given in the problem) for this demand equation 𝑃 = 10 − 1/2Qd.

1. Does a decrease in price necessarily increase total revenue?

2. For what price the total revenue is maximum? What is the price elasticity of demand for that

price?