6. Elasticity and total revenue IThe following graph shows the daily demand curve for bippitybops in Vancouver.On the following graph, use the green rectangle (triangle symbols) to shade the area representing total revenue at various prices along the demandcurve. Notice that when you click on the rectangle, the area is displayed.Note: You will not be scored on any changes made to this graph.PRICE (Dollars per bippitybop)2402202001801601401201008060402000612**+48B18 24 30 36QUANTITY (Bippitybops per day)Demand54 8072Total Revenue? On the following graph, use the green point (triangle symbol) to plot the daily total revenue when the market price is $40, $60, $80, $100, $120,$140, and $160 per bippitybop.TOTAL REVENUE (Dollars)5060468043003920354031602780240020201840 +0+20406080 100 120 140 160 180 200 220 240PRICE (Dollars per bippitybop)Total Revenue?

The demand curve depicts the inverse relationship between price and quantity demanded, keeping other…

Answered: 6. Elasticity and total revenue I The…

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6. Elasticity and total revenue I The following graph shows the daily demand curve for bippitybops in Vancouver.

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 6PA: Suppose that your demand schedule for DVDs is as follows: Price Quantity Demanded (income = 10,000)...

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Question

6. Elasticity and total revenue I
The following graph shows the daily demand curve for bippitybops in Vancouver.
On the following graph, use the green rectangle (triangle symbols) to shade the area representing total revenue at various prices along the demand
curve. Notice that when you click on the rectangle, the area is displayed.
Note: You will not be scored on any changes made to this graph.
PRICE (Dollars per bippitybop)
240
220
200
180
160
140
120
100
80
60
40
20
0
0
6
12
**
+
48
B
18 24 30 36
QUANTITY (Bippitybops per day)
Demand
54 80
72
Total Revenue
?

On the following graph, use the green point (triangle symbol) to plot the daily total revenue when the market price is $40, $60, $80, $100, $120,
$140, and $160 per bippitybop.
TOTAL REVENUE (Dollars)
5060
4680
4300
3920
3540
3160
2780
2400
2020
1840 +
0
+
20
40
60
80 100 120 140 160 180 200 220 240
PRICE (Dollars per bippitybop)
Total Revenue
?

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