Econ Help The following graph shows the daily demand curve f

Econ Help:

The following graph shows the daily demand curve for bippitybops in Miami. 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. 275 Total Revenue 200 175 150 100 75 Demand 3 6 9 12 15 18 21 24 27 30 33 36 QUANTITY (Bippitybops) 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 bippitybop.

Solution

Answer to 1st blank: -0.34    (Explanation: E = (3/-25) * (125/44) = -0.34)

Answer to 2nd blank: inelastic

Answer to 3rdblank: increase

Answer to 4th blank: Elastic

Price($)	Quantity(units)	TR($)
50	24	1200
75	21	1575
100	18	1800
125	15	1875
150	12	1800
175	9	1575
200	6	1200