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. 10800 A 8800 Total Revenue 8000 8200 7400 TOTAL REVENUE (Dollars) 6800 5800 5000 4 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 $125 per bike, shown as point B on the initial graph. Because the demand between points A and B is , a $25-per-bike 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