Post-Lecture Quiz (Ch 05) On the following graph, use the green point (triangle symbol) to plot the annual total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per bike. 1730 A 1620 Total Revenue 1510 1400 1290 TOTAL REVENUE (Dollars) 1180 1070 960 850 740 0 15 30 45 60 75 90 105 120 135 150 165 180 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 $45 per bike, shown as point B on the initial graph. Because the demand between points A and B is , a $15-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