On the foiiowing graph, use the green point {triangle symbol) to plot the annuai total revenue when the market price is $50, $75, $100, $125, $1: $175, and $200 per bike. * Total Revenue 1980 - 1740 - TOTAL REVENUE (Dolls rs) 1500 ~ A 1260 - 1020 + l l l |. l l l l l l l l 0 25 50 75 100 125 150 1?5 200 225 250 2T5 300 PRICE (Dollars per bike) According to the midpoint method, the price elasticity of demand between points A and E is approximately 0.6 V . Suppose the price of bikes is currently $125 per bike, shown as point A on the initial graph. Because the demand between points A and B is inelastic V , a $25perbike decrease in price will lead to a decrease V in total revenue per day. In general, in order for a price increase to cause an increase in total revenue, demand must be elastic V . 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. 3111] E Total Revenue 275 251] 225 2111] 175 151] 125 1111] PRICE (Dollars par bike) Pam?\" \\ +ll|ll||ll U 3 B 9 12 15 18 21 24 2? 3D 3336 QUANTITY [Bikes]