Hello

I was wondering if someone could help me with this.

P=Price

Q=Quantity

TR = Total Revenue

Price ($) Quantity 7 0 6 100 5 200 4 300 3 400 2 500 1 600 0 700

Total Revenue = P X Q

We assume a linear relationship.

They said that they know the demand curve is Q = 700 - 100P

How did they get that? Do you have to do a graph to figure that out? How do you get that based on looking at the data?

Thanks in advance.