Mostly need help with the graph, but a short explanation on how to arrive at the answer for the fill in the blank section would also be great. Thanks! The following graph shows the daily demand curve for bikes in Denver.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.300275250Total Revenue2252001751501251007550B25Demand918273645546372819099108QUANTITY (Bikes)PRICE (Dollars 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.95408820Total Revenue81007380666059405220450037803060255075100 125 150175 200 225 250 275 300PRICE (Dollars per bike)According to the midpoint method, the price elasticity of demand between points A and B is approximatelySuppose the price of bikes is currently $25 per bike, shown as point B on the initial graph. Because the demand between points A and B isa $25-per-bike increase in price will lead toin total revenue per day.In general, in order for a price decrease to cause a decrease in total revenue, demand must beTOTAL REVENUE (Dollars)

The following graph shows the daily demand curve for bikes in Denver. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand cu. Note: You will not be graded on any changes made to this graph. 300 275 250 Total Revenue 225 200 175 150 125 100 75 A 50 B 25 Demand 9 18 27 36 45 54 63 72 81 90 99 108 QUANTITY (Bikes) PRICE (Dollars per bike)

The following graph shows the daily demand curve for bikes in Denver. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand cu. Note: You will not be graded on any changes made to this graph. 300 275 250 Total Revenue 225 200 175 150 125 100 75 A 50 B 25 Demand 9 18 27 36 45 54 63 72 81 90 99 108 QUANTITY (Bikes) PRICE (Dollars per bike)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following graph shows the daily demand curve for bikes in Denver. 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. 240 220 200 Total Revenue 180 160 140 120 100 80 60 40 20 Demand 9 18 27 36 45 54 63 72 81 90 99 108 QUANTITY (Bikes) PRICE (Dollars per bike)
The following graph shows the daily demand curve for bikes in San Diego. 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) 180 165 150 135 120 105 90 75 60 45 30 15 0 0 4 8 12 * 16 A * B 20 24 28 QUANTITY (Bikes) Demand 32 36 40 44 48 Total Revenue ?
The following graph shows the daily demand curve for bikes in Montreal. 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) 300 275 250 225 200 175 150 125 100 75 50 25+ D 0 10 20 30 4 B 40 50 60 70 00 QUANTITY (Bikes) 90 Demand 100 110 120 Total Revenue ?
The following graph shows the daily demand curve for bikes in New York City. Compute the total revenue at various prices along the demand curve.
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. Note: You will not be graded on any changes made to this graph. (? 300 275 250 Total Revenue 225 200 + В 175 150 125 100 75 50 25 Demand 10 20 30 40 50 60 70 80 90 100 110 120 QUANTITY (Bikes) PRICE (Dollars per bike)
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. PRICE (Dollars per scooter) 300 275 250 200 175 150 125 100 75 50 0 0 + 3 6 9 x 4 * B Demand 12 15 18 21 24 27 QUANTITY (Scooters) 30 33 36 39 Total Revenue ?
es The table below depicts the demand for sunscreen at Daytona Beach. Demand for Sunscreen Price (dollars) $20.00 18.00 16.00 14.00 12.00 10.00 8.00 6.00 4.00 Quantity (bottles) Total Revenue (dollars) 0 800 2,800 4,800 6,800 8,800 10,800 12,800 14,800 1222 Instructions: Enter your answer as a whole number. If you are entering a negative number include a minus sign. a. Fill in the total revenue column. b. When the price of a bottle of sunscreen decreases from $18.00 a bottle to $16.00 a bottle, what is the change in total revenue? $ c. When the price of a bottle of sunscreen decreases from $14.00 a bottle to $10.00 a bottle, what is the change in total revenue?
6. Elasticity and total revenue 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. Note: You will not be graded on any changes made to this graph. 120 110 Total Revenue 100 90 80 70 60 40 A 30 20 10 Demand 16 24 32 40 48 56 64 72 80 88 96 QUANTITY (Bikes) PRICE (Dollars per bike) 50
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
With this graph given, What are the implications of this to both the sellers and the consumers?
3. Using the midpoint method The following graph shows two known points (X and Y) on a demand curve for tomatoes. 0102030405060708090100109876543210PRICE (Dollars per pound)QUANTITY (Thousands of pounds of tomatoes)DemandXYSlope: -0.05 According to the midpoint method, the price elasticity of demand for tomatoes between point X and point Y is approximately (0.05 / 0.2 / 0.25 / 5) , which suggests that th demand for tomatoes is (elastic / inelastic ) between points X and Y.
Bob of Bob's Burgers used to charge $2.20 for a certain hamburger and sold 4000 units. When he increased the price by $1, he sold 3000 units. Calculate the hamburger's price elasticity of demand using the technique in the PowerPoints and text. You will use this information again in the next question.Enter only numbers, a decimal point, and/or a negative sign as needed. Round all intermediate steps to four decimal places and your final answer to two decimal places.