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Question: options available a b c d...

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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 $20, $30, $40, $50, $60, $70 and $80 per bike 1300 1200 Total Revenue 1100 1000 Ш 900 800 700 600 500 0 10 20 30 40 50 60 70 80 90 100 110 120 PRICE (Dollars per bike)

According to the midpoint method, the price elasticity of demand between points A and B is approximately ▼ Suppose the price of bikes is currently $30 per bike, shown as point A on the initial graph. Because the demand between points A and B is ,a $10-per-bike decrease in price wil lead to in total revenue per day. In general, in order for a price increase to cause an increase in total revenue, demand must be

Options available:

a. 0 0.26 3.8 7.5 ately

b. elastic inelastic midpoir unit elastic rice of bike , a $1

c. a decrease nd an increase ts no change iti to

d. elastic a inelastic nd be unit elastic

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