(Solved): On the following graph, use the green point (triangle symbol) to plot the annual total revencie w ...

On the following graph, use the green point (triangle symbol) to plot the annual total revencie when the market price is \( \$ 30 \), \( \$ 45 \), \( \$ 60 \), \( \$ 75 \), \( \$ 90 \), \( \$ 105 \), and \( \$ 120 \) 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 \( \$ 45 \) per blke, shown as point B on the inital graph. Because the demand between points \( A \) and a is , a \( \$ 15 \)-per-blke increase in price will lead to in total revense per day. In general, in order for a price decrease to cause a decrease in total revenue, demand must be