On the following graph, use the green point (triangle symbol) toplot the weekly total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per scooter. TOTAL REVENUE (Dollars) 1480 1320 1180 1040 900 780 620 480 340 200 + + 0 15 30 45 80 75 90 105 120 135 150 165 180 195 PRICE (Dollars per scooter) Total Revenue According to the midpoint method, the price elasticity of demand between points A and B is approximately Suppose the price of scooters is currently $45 per scooter, shown as point B on the initial graph. Because the demand between points A and B is , a $15-per-scooter increase in price will lead to in total revenue per week. In general, in order for a price increase to cause a decrease in total revenue, demand must be
On the following graph, use the green point (triangle symbol) toplot the weekly total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per scooter. TOTAL REVENUE (Dollars) 1480 1320 1180 1040 900 780 620 480 340 200 + + 0 15 30 45 80 75 90 105 120 135 150 165 180 195 PRICE (Dollars per scooter) Total Revenue According to the midpoint method, the price elasticity of demand between points A and B is approximately Suppose the price of scooters is currently $45 per scooter, shown as point B on the initial graph. Because the demand between points A and B is , a $15-per-scooter increase in price will lead to in total revenue per week. In general, in order for a price increase to cause a decrease in total revenue, demand must be
Chapter1A: Appendix: Working With Graphs
Section: Chapter Questions
Problem 1E
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