2. Elasticity and total revenue The following graph illustrates the weekly demand curve for motorized scooters in Scottsdale. 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.\fOn the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $20, $30, $40, $50, $60, $70, and $80 per scooter. 2260 A 2120 Total Revenue 1980 1840 1700 TOTAL REVENUE (Dollars) 1580 1420 1280 1140 1000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 PRICE (Dollars per scooter)According to the midpoint method, the price elasticity of demand between points A and Bis approximately 7 . Suppose the price of scooters is currently $20 per scooter, shown as point B on the initial graph. Because the demand between points A and B is V , a $10perscooter increase in price will lead to V in total revenue per week. In general, in order fora price decrease to cause a decrease in total revenue, demand must be v . 1230 1140 1030 0102030405050T0809310011D120130 PRICE [Dollars per scooter] '7 According to the midpoint method, the price elasticityr of demand between points A and B is approximately Suppose the price of scooters is currently $20 per scooter, shown as point B on the initial graph. Because the demand between points A and Bis v , a $lDperscooter increase in price will lead to v in total revenue per week. In general, in order fora price decrease to cause a decrease in total revenue, demand must be 7 . inelastic e midpoint method, the price elasticity of demand between points A and B is approximately v . unit elastic rice of scooters is currentlil-r $20 per scooter, shown as point B on the initial graph. Because the demand between points A and Bis V , a $10perscpoter increase in price will lead to V in total revenue per week. In general, in order fora price decrease to cause a decrease in total revenue, demand must be v . According to the midpoint method, the price elasticity of demand between points A and Bis ap- Suppose the price of scooters is currentll.r $20 per scooter, shown as point B on the initial graph E demand between points A and Bis v , a $10perscooter increase in price will lead to V in total re _ _ -k. unit elastic In general, in order fora price decrease to cause a decrease in total revenue, demand must be 7