2. Elasticity and total revenue The following graph illustrates the weekly demand curve for motorized scooters in Moline. 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. (-23) 195 180 165 Total Revenue 150 135 120 105 90 75 60 PRICE (Dollars per scooter) 45 30 '15 0 3 6 912151821242730333639 QUANTITY (Scooters) On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per scooter. {'3' \\L/ 1130 A 1020 Total Revenue 910 W 800 W 690 580 470 TOTAL REVENUE (Dollars) 360 W 250 W I40 I I I I I I I I I I I I I o 15 so 45 60 75 90 IU5 120 135 I50 155 I80 195 PRICE (Dollars per scooter) According to the midpoint method, the price elasticity of demand between points A and B is approximately V Suppose the price of scooters is currently $30 per scooter, shown as point B on the initial graph. Because the demand between points A and B is V , a $15-perscooter increase in price will lead to V in total revenue per week. In general, in order for a price decrease to cause a decrease in total revenue, demand must be V