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Post-Lecture Quiz (Ch 05) 4. Elasticity and total revenue The following graph shows the daily demand curve for bikes in Philadelphia. Use the green rectangle

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Post-Lecture Quiz (Ch 05) 4. Elasticity and total revenue 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. Note: You will not be graded on any changes made to this graph. (?) 180 165 150 Total Revenue 135 120 105 PRICE (Dollars per bike) 90 K 60 A B 30 15 Demand 0 8 2 16 20 24 28 32 36 40 44 48 QUANTITY (Bikes)

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