1. The Squish, an upscale 150 -seat restaurant, revises its menu every six months. The revisions are based, in part, on the price elasticity of demand for their menu items. During the thirty-day periods before and after the last menu revision, the selling prices and quantity sold of three items were as follows: The above sales quantities have remained fairly constant each month since the last menu revision. Q1: Compute the price elasticity of demand for each menu item. Q2: Advise Kay Rae, the manager, of the implications of your results for each menu item