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On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $50, $75, $100, $125,

On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $50, $75, $100, $125, $150, $175, and $200 per scooter.

Total Revenue02550751001251501752002252502753003254290402037503480321029402670240021301860TOTAL REVENUE (Dollars)PRICE (Dollars per scooter)

According to the midpoint method, the price elasticity of demand between points A and B is approximately .

Suppose the price of scooters is currently $175 per scooter, shown as point B on the initial graph. Because the demand between points A and B is , a $25-per-scooter increase in price will lead to in total revenue per week.

In general, in order for a price increase to cause a decrease in total revenue, demand must be .

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