50 40 40 PRICE (Dollars per bippitybop) = 30 25 20 S 10 10 B a B Demand 43 AB 54 80 12 10 24 30 QUANTITY (Bippitybops per day) Total Revenue Calculate the daily total revenue when the market price is $50, $45, $40, $35, $30, $25, $20, and $15 per bippitybop. Then, use the green point (triangle symbol) to plot the daily total revenue against quantity corresponding to these market prices on the following graph TOTAL REVENUE (Dollars) Calculate the daily total revenue when the market price is $50, $45, $40, $35, $30, $25, $20, and $15 per bippitybop. Then, use the green point (triangle symbol) to plot the daily total revenue against quantity corresponding to these market prices on the following graph. 000 8251 750 675 000 525 450 375 300 225 150 75 0 12 18 24 30 36 42 48 54 60 QUANTITY (Bippitybops per day) Total Revenue According to the midpoints formula, the price elasticity of demand between points A and B on the initial graph is approximately, Suppose the price of bippitybops is currently $30 per bippitybop, shown as point B on the initial graph. Because the price elasticity of demand between a $5-per-bippitybop increase in price will lead to in total revenue per day. points A and B is In general, in order for a price decrease to cause an increase in total revenue, demand must be