Business, 23.01.2022 22:50 lily1482

According to the midpoint method, the price elasticity of demand between points A and B is approximately (0, 0.6, 1.67, 22.5) . Suppose the price of bikes is currently $100 per bike, shown as point B on the initial graph. Because the demand between points A and B is (elastic, inelastic, unit elastic) , a $25-per-bike increase in price will lead to (decrease, an increase, no change) in total revenue per day.
In general, in order for a price decrease to cause a decrease in total revenue, demand must be (elastic, inelastic, unit elastic) .

According to the midpoint method, the price elasticity of demand between points A and B is approxim

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