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PLEASE READ VERY CAREFULLY!! SHOW ALL THE CALCULATIONS! AND LIST ALL THE TOTAL REVENUE COORDINATE POINTS!!

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. 300 275 250 Total Revenue 225 200 2 175 T T150 e 125 100 75 50 25 0 10 20 30 40 50 60 70 80 90 100 110 120 QUANTITY (Bikes)

On the following graph, use the green point (triangle symbol) to plot the annual total revenue when the market price is $50, $75, $100, $125, $150, $175, and $200 per bike. 0800 T 9800 Total Revenue 9000 8200 6600 5000 4200 400 0 25 50 75 100 125 150 175 200 225 250 275 300 PRICE (Dollars per bike)

According to the midpoint method, the price elasticity of demand between points A and B is approximately Suppose the price of bikes is currently $200 per bike, shown as point A on the initial graph. Because the demand between points A and B is a $25-per-bike decrease in price will lead to in total revenue per day. In general, in order for a price increase to cause a decrease in total revenue, demand must be Grade It Now Save & Continue Continue without saving

ANSWER OPTIONS FOR NUMBER 1: 0, 0.6, 1.67, 75.02

2. ELASTIC, UNIT ELASTIC, INELASTIC

3. A DECREASE, AN INCREASE, NO CHANGE

4. ELASTIC, UNIT ELASTIC, INELASTIC

business   economics   
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Answer #1

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