(2 pts) At Luigi's Pizzeria, the quantity of large pizza pies sold is 200 at the unit price of $15. Suppose the price elasticity of demand for pizzas by the initial value method is 1.5, and you would like to increase the quantity sold to 250. In order for this to happen, the new price must be (Must show you work!) (4 pts) Let's take a look at the elasticity of demand for student parking passes at Kingsborough. There is a reasonable public transportation system with buses coming to and leaving campus, but the majority of students drive to campus. A student parking permit costs $90. As the parking lots become increasingly congested, the college considers raising the price of the parking passes in hopes that it will encourage more students to carpool take the bus. In 2020, the college sold 5,820 student parking passes. The college estimates the price elasticity of demand for student parking passes is .62 (Show your work for full points!!) a) If the college increases the price of parking permits from $90- to $98- for year 2021, how many fewer students will buy parking permits? Answer: b) Calculate the difference in total revenue from the sale of student parking passes from 2020 to 2021. B sure to include the amount and whether or not it is an increase or decrease in total revenue