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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.

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.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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HomeworkS 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. 10000 s800 Total Revenue s000 200 7400 se00 so00 4200 0.6 3400 25 50 76 100 125 50 175 200 225 250 275 300 PRICE (Dollars per bike) 1.67 75.02 According to the midpoint method, the price elasticity of demand between points A and B is approximately SEP 19 TOTAL REVENUE (Dollars)
Transcribed Image Text:HomeworkS 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. 10000 s800 Total Revenue s000 200 7400 se00 so00 4200 0.6 3400 25 50 76 100 125 50 175 200 225 250 275 300 PRICE (Dollars per bike) 1.67 75.02 According to the midpoint method, the price elasticity of demand between points A and B is approximately SEP 19 TOTAL REVENUE (Dollars)
Q Sea Homework5 The following graph shows the daily demand curve for bikes in Chicago. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Noțe: You will not be graded on any changes made to this graph. 300 275 250 Total Revenue 225 200 175 150 125 100 75 50 25 Demand 30 40 50 60 70 80 90 100 110 120 10 20 QUANTITY (Bikes) SEP PRICE (Dollars per bike)
Transcribed Image Text:Q Sea Homework5 The following graph shows the daily demand curve for bikes in Chicago. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Noțe: You will not be graded on any changes made to this graph. 300 275 250 Total Revenue 225 200 175 150 125 100 75 50 25 Demand 30 40 50 60 70 80 90 100 110 120 10 20 QUANTITY (Bikes) SEP PRICE (Dollars per bike)
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