Economics

The following graph shows the daily demand curve for bikes in Philadelphia- Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve- Dn 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. According to the midpoint method, the price elasticity of demand between points A and B is approximately _ Suppose the price of bikes is currently $125 per bike, shown as point B on the initial graph Because the demand between points A and B is a $25- perbike increase in price will lead to ________ in total revenue per day. In general. in order for a price decrease to cause a decrease in total revenue. demand must be