The following graph illustrates the market for walnuts. It puts the monthly supply of walnuts in the monthly demand for walnuts. Suppose new gathering technology is invented, allowing growers to produce more crops using the same amount of resources.Show the effective shockers on the market for walnuts, by shifting the demand curve, supply curve, or both Several growers are happy with this advancement in technology, because now they can sell more crops, which they believe will lead to increases in revenue. Using elasticities, you will be able to determine whether this price change will lead to a rise or fall in total revenue in this market.Using the midpoint method, the price elasticity of demand for walnuts between the price level of $20 and $12 per ton is __ meaning that between these two points demand is (elastic/inelastic/unit elastic) best you can conclude that the growers claim is (correct/incorrect) because total revenue will (decrease/increase) due to the technological improvement.Confirm your previous conclusion by calculating total revenue in the walnut market before an after the technological improvement. Total revenue(millions of dollars) -before technological improvement ___ after technological improvement __

Its original position, just drag it a little farther. 40 O Demand 32 Supply 24 Supply PRICE (Dollars per ton) 16 Demand 0 0 12 24 36 48 60 QUANTITY (Thousands of tons)