Aplia Homework: Elasticity of Demand and Supply On the following graph, use the green point (triangle symbol) to plot the daily total revenue when the market price is $10, $15, and $40 per pair of earrings. $20, $25, $30, $35, 1030 2 960 890 Total Revenue 820 (Dollars) 750 680 610 TOTAL REVENUE 540 470 4 t t 0 5 HOSE ISR 200 225 + t { 30 35 40 45 50 55 60 PRICE (Dollars per pair) According to the midpoint method, the price elasticity of demand between points A and B on the initial graph is approximately and B is Suppose the price of earrings Is currently. $20 per pair, shown as point B on the Initial graph. Because the price elasticity of demand between points A w , a $5-per-pair increase in price will lead to W In total revenue per day. In general, in order for a price decrease to cause a decrease in total revenue, demand must be