CENGAGE | MINDTAP Q Search this co Homework (Ch 05) On the following graph, use the green point (triangle symbol) to plot the annual total revenue when the market price is $50, $75, $100, $125, $150, $175, and $200 per bike. 10600- 9800 Total Revenue 9000 8200 7400 TOTAL REVENUE (Dollars 6600 5800 5000 4200 3400 0 25 50 75 100 125 150 175 200 225 250 275 300 PRICE (Dollars per bike) According to the midpoint method, the price elasticity of demand between points A and B is approximately Suppose the price of bikes is currently $200 per bike, shown as point A on the Initial graph. Because the demand between points A and B is , a $25-per-bike decrease in price will lead to In total revenue per day. In general, in order for a price increase to cause a decrease in total revenue, demand must be