2. Using the graph below for the rental of a windrower, perform the tasks that follow. You must show your work on parts "a" and "b". Price for Equipment ($/hr.) A 80 B 60 C 40 D 20 35 50 Quantity of equipment hours a. Using the midpoint equation presented in the book, in class, and given to you on the formula sheet, calculate the coefficient for the price elasticity of demand when you mov from point A to point B. Is it elastic or inelastic? You must show your work. (20 points)b. Using the midpoint equation presented in the book and in class, calculate the coefficient for the price elasticity of demand when you move from point B to point C. Is it elastic or inelastic? You must show your work. (20 points) c. Using the determinants of elasticity discussed in class and in your book, why would you expect to see a change in the coefficient of price elasticity as the price declines (and quantity increases)? (10 points)