Total revenue cannot be derived from the demand curve or a demand schedule

Using the data in the table above, the equilibrium quantity and equilibrium price for a cellular telephone are

A) 50,000 and $100. B) 80,000 and $80. C) 60,000 and $50. D) 100,000 and $20. E) 40,000 and $20.

In economics, technology only refers to the development of new products

Indicate whether the statement is true or false