The following graph illustrates the weekly demand curve for motorized scooters in Roanoke. 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. image 1 PRICE (Dollars per scooter) 325 300 275 250 225 200 175 150 125 100 75 50 25 0 0 3 6 9 x A x 8 Demand 12 15 18 21 24 27 QUANTITY (Scooters) 30 33 36 39 Total Revenue
The following graph illustrates the weekly demand curve for motorized scooters in Roanoke. 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. image 1 PRICE (Dollars per scooter) 325 300 275 250 225 200 175 150 125 100 75 50 25 0 0 3 6 9 x A x 8 Demand 12 15 18 21 24 27 QUANTITY (Scooters) 30 33 36 39 Total Revenue
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![On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $50, $75, $100, $125, $150,
$175, and $200 per scooter.
TOTAL REVENUE (Dollars)
2610
2430
2250
2070
1890
1710
1530
1350
1170
990
0 25 50
75
100 125 150 175 200 225 250 275 300 325
PRICE (Dollars per scooter)
Total Revenue
?
According to the midpoint method, the price elasticity of demand between points A and B is approximately
image 2
Suppose the price of scooters is currently $125 per scooter, shown as point A on the initial graph. Because the demand between points A and B is
, a $25-per-scooter decrease in price will lead to
V in total revenue per week.
In general, in order for a price decrease to cause a decrease in total revenue, demand must be](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fba261385-97f5-40c0-ae57-7fa3ebd6691b%2F10218a68-a3ae-4b98-95c2-8ef72be24826%2Fs1fanm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $50, $75, $100, $125, $150,
$175, and $200 per scooter.
TOTAL REVENUE (Dollars)
2610
2430
2250
2070
1890
1710
1530
1350
1170
990
0 25 50
75
100 125 150 175 200 225 250 275 300 325
PRICE (Dollars per scooter)
Total Revenue
?
According to the midpoint method, the price elasticity of demand between points A and B is approximately
image 2
Suppose the price of scooters is currently $125 per scooter, shown as point A on the initial graph. Because the demand between points A and B is
, a $25-per-scooter decrease in price will lead to
V in total revenue per week.
In general, in order for a price decrease to cause a decrease in total revenue, demand must be
![The following graph illustrates the weekly demand curve for motorized scooters in Roanoke.
Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve.
image 1
Note: You will not be graded on any changes made to this graph.
PRICE (Dollars per scooter)
325
300
275
250
225
200
175
150
125
100
75
50
25
0
0
3
6
9
X1
*B
Demand
12 15 18 21 24 27
QUANTITY (Scooters)
30
33 36 39
Total Revenue](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fba261385-97f5-40c0-ae57-7fa3ebd6691b%2F10218a68-a3ae-4b98-95c2-8ef72be24826%2Frj5i1w_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following graph illustrates the weekly demand curve for motorized scooters in Roanoke.
Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve.
image 1
Note: You will not be graded on any changes made to this graph.
PRICE (Dollars per scooter)
325
300
275
250
225
200
175
150
125
100
75
50
25
0
0
3
6
9
X1
*B
Demand
12 15 18 21 24 27
QUANTITY (Scooters)
30
33 36 39
Total Revenue
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