On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $30, $45, $60, $75, $90,$105, and $120 per scooter.TOTAL REVENUE (Dollars)113010209108006905804703602501400 15 30 4560 75 90 105 120 135 150 165 180 195PRICE (Dollars per scooter)Total Revenue?According to the midpoint method, the price elasticity of demand between points A and B is approximatelySuppose the price of scooters is currently $90 per scooter, shown as point A on the initial graph. Because the demand between points A and B isa $15-per-scooter decrease in price will lead toin 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 Moline.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 scooter)1951801651501351201059075604530150++0 3 6 9ABDemand++12 1518 21 24 27 30QUANTITY (Scooters)33 363922Total Revenue?

On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per scooter. REVENUE (Dollars) 1130 1020 910 800 690 580 Total Revenue

On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per scooter. REVENUE (Dollars) 1130 1020 910 800 690 580 Total Revenue

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $30, $45, $60, $75, $90,
$105, and $120 per scooter.
TOTAL REVENUE (Dollars)
1130
1020
910
800
690
580
470
360
250
140
0 15 30 45
60 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 $90 per scooter, shown as point A on the initial graph. Because the demand between points A and B is
a $15-per-scooter decrease in price will lead to
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 Moline.
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 scooter)
195
180
165
150
135
120
105
90
75
60
45
30
15
0
+
+
0 3 6 9
A
B
Demand
++
12 15
18 21 24 27 30
QUANTITY (Scooters)
33 36
39
22
Total Revenue
?

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