As we start moving down a demand curve value of the revenue reaches a maximum at a point which is the midpoint of the demand curve.
In a downward-sloping demand curve, price and quantity demanded move in opposite directions, so the price elasticity of demand is always negative. A positive percentage change in price implies a negative percentage change in quantity demanded and vice versa.
Recall that the downward slope of the aggregate demand curve means that as the price level falls, more output will be demanded. Likewise, national income increases when the price level falls.
The question is incomplete. Please read below to find the missing content.
On a downward-sloping linear demand curve, total revenue reaches its maximum value at the
a.
midpoint of the demand curve
b.
lower end of the demand curve
c.
upper end of the demand curve
d.
It is impossible to tell without knowing the prices and quantities demanded.
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