So to maximize total revenue, we sell at the price on the demand elasticity curve where elasticity=1 right? Lets say on one curve, the elasticity throughout the curve is equal to 1.5? How much should we decrease the price?
Pick any point on the demand curve. If you were to increase price by $x$ percent, the quantity sold will decrease by $1.5x$ percent.
- If you increase price, what will happen to your total revenue? Will it go up or down?
- If you decrease price, what will happen to your total revenue?
Move your point $x$ in the direction that will increase your TR. Do the same thing over and over again. This link might also help you visualize and understand more.