The following graph shows the daily demand curve for bikes in San Diego.

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The following graph shows the daily demand curve for bikes in San Diego.

6. Elasticity and total revenue

Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve.

Note: You will not be graded on any changes made to this graph.

Homework (Ch 05) 6. Elasticity and total revenue The following graph shows the daily demand curve for bikes in San Diego. Use

QUANTITY (Bikes) On the following graph, use the green point (triangle symbol) to plot the annual total revenue when the mark

business economics

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Answer 1

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Answer #1

Total revenue (TR) = Price (P) x Quantity (Q)

P ($)	Q	TR ($)
50	60	3000
75	54	4050
100	48	4800
125	42	5250
150	36	5400
175	30	5250
200	24	4800

Graph (1) - points A and B

Graph (2) - TR

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Answer 2

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The following graph shows the daily demand curve for bikes in San Diego.

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