Consider the demand curve illustrated in the figure to the right. Is demand elastic or inelastic? A. Demand is elastic at all prices above $9.00 and inelastic at all prices below $9.00. B. Demand is elastic at all prices above $7.00 and inelastic at all prices below $7.00 C. Demand is elastic (at all prices) D. Demand is inelastic at all prices above $9.00 and elastic at all prices below $9.00 E. Demand is inelastic (at all prices) 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)
