(Solved): note please label graph and number answers please; thanks 10. Total revenue and elasticity Imagine t ...

10. Total revenue and elasticity Imagine that you run the toll authority for a city bridge. You must charge all of your customers the exact same toll. Inatially, you have set the prioe at $$\$7$$ per trip. The blue line on the following graph shows the weekly demand curve for trips across the city hridge. On the following graph, use the purple rectangle (diamond symbols) to shade the area representing the total weekly revenue when the toll is sf on the graph. Notice that when you click on the rectangle, the area is displayed, On the following graph, use the purple rectangle (diamond symbols) to shade the area representing the total weekly revenue when the toll is $$\$7$$ on the graph. Notice that when you click on the rectangle; the area is displayed. An advisor has suggested that if you raise the toll to 58 , the toll authority would bring in more revenue. To analyce this, use the green rectanghe (triangle symbols) to shade the area representing the total weekly revenue when the toll is 58 on the graph. An advisor has suggested that of you raise the toll to $$\$8$$, the toll authority would bring in more revente. To analyce this, use the green rectangle (triangle symbols) to shade the area representing the total weekly revenue when the toll is $$\$8$$ on the graph. When the toll is $$\$7$$, total revenue is per week, but when the toll is $$\$8$$, total revenee is Based on your analysis, you can conclude that your advisor is in suggesting that total revenue woald rise if you increase the toll from 57 to 58 , because the demand for trips across the bridge for prices between $$\$7$$ and 58 is per week, but when the toll is $$\$8$$, total revenue is that your advisor is in suggesting that total revenue would ri 5 the bridge for prices between $$\$7$$ and $$\$8$$ is