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. PRICE (Dollars per bike) 300 275 250 225 200 175 150 125 B 100 75 50 25 Demand 0 + 0 3 6 9 12 15 18 21 24 27 30 33 36 QUANTITY (Bikes) Total Revenue (?) 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. TOTAL REVENUE (Dollars) 3180 2940 2700 2460 2220 1980 1740 1500 1260 1020+ 0 25 50 75 100 125 150 175 200 225 250 275 300 PRICE (Dollars per bike) Total Revenue (?) 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 A on the initial graph. Because the demand between points A and B is , a $25-per-bike decrease in price will lead to in total revenue per day. In general, in order for a price increase to cause an increase in total revenue, demand must be