The following graph shows the dally demand curve for bikes in Denver. Use the green rectangle (trlangle 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. 120 110 100 Total Revenue 90 80 70 60 50 40 30 20 10 Demand 16 24 32 40 48 56 64 72 80 88 QUANTITY (Bikes) On the following graph, use the green point (triangle symbol) to plot the annual total revenue when the market price and $80 per bike. 2770 2580 Total Revenue 2390 2200 2010 "ENUE (Dollars) PRICE (Dollars per bike)
The following graph shows the dally demand curve for bikes in Denver. Use the green rectangle (trlangle 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. 120 110 100 Total Revenue 90 80 70 60 50 40 30 20 10 Demand 16 24 32 40 48 56 64 72 80 88 QUANTITY (Bikes) On the following graph, use the green point (triangle symbol) to plot the annual total revenue when the market price and $80 per bike. 2770 2580 Total Revenue 2390 2200 2010 "ENUE (Dollars) PRICE (Dollars per bike)
Chapter18: Asymmetric Information
Section: Chapter Questions
Problem 18.3P
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