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Homework (Ch 05) 6. Elasticity and total revenue The following graph shows the daily demand curve for bikes in Dallas. 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. Total Revenue O Type here to search

Total Revenue 20 30 40 50 60 70 80 90 100 110 120 ° Type here to search

Homework (Ch05) on the following graph use the green point trange symbol to plot the annual total revenue when the market price is $20, $30, $40, $50, $60, $70 and $80 per bike. 8 0 -0 20 30 40 50 60 70 80 90 100 110 120 PRICE (Dollars per bike)

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demand points A and B is approximately (0.01, 0.33, 3, 75.02).
Suppose the price of bikes....points A and B is (elastic, inelastic, unit elastic) ...will lead to (a decrease, an increase, and no change) in total revenue. In general, ....demand must be (elastic, inelastic or unit elastic)

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Answer #1

O,10D A (20, 8o) (o, 70) 8 20 (1ου ,ο Р-Р, 2.0 2)30 申2100 2400 S0 aSo o $ 60 240D@uouhy 7o 2100 6 0 D 50,2sod) 040 D bol2 2100 2 (30,2/00) 0 7 2 30 2 . to 8o otonelashe munt he Elastio e. lY ov)

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