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2. Elasticity and total revenue The following graph shows the daily demand curve for bikes in Miami. Use the green rectangle (triangle symbols) to compute

2. Elasticity and total revenue

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

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.

image text in transcribed

image text in transcribed

CENGAGE | MINDTAP dule Three Quiz 180 150 Total Revenue 8 PRICE (Dollars per bike Demand 4 CO 12 16 20 24 28 32 36 40 44 49 QUANTITY (Bikes) qbModule Three Quiz 1730 1620 Total Revenue 1510 1400 1290 TOTAL REVENUE (Dollars) 1180 1070 960 850 740 15 30 45 60 75 90 105 120 135 150 165 180 PRICE (Dollars per bike) qb prt se F4

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