4) Noting that the slope of the demand curve is constant, calculate the elasticities at the prices $8, $7, $6, $5, $4, $3, and $2. Which of these points are elastic? Which of these points are inelastic? Draw a linear demand curve and show on the curve, the elastic and inelastic regions of the curve and the point of unit elasticity. Calculate the total revenue at each different price level. At which price level is total revenue maximized? Make a table to present your results, including prices, quantities, elasticities, and total revenues.

Fig: 1