Consider the demand curve illustrated in the figure to the

Last updated: 4/12/2023

Consider the demand curve illustrated in the figure to the right Is demand elastic or inelastic OA Demand is elastic at all prices above 7 00 and inelastic at all prices below 7 00 B Demand is inelastic at all prices C Demand is elastic at all prices above 5 00 and inelastic at all prices below 5 00 D Demand is elastic at all prices O E Demand is inelastic at all prices above 7 00 and elastic at all prices below 7 00 At what price is total revenue maximized Total revenue is maximized when price equals Enter your response as a real number rounded to two decimal places CID Price 20 18 16 14 12 10 8 6 4 2 6 m ID 8 10 12 Quantity