7. Bret's Accounting & Tax Services is a small but locally well-known accounting firm in Sioux City, IA which completes taxes for individuals. Every year, firms like Bret's decide how much they will charge to complete and file an individual tax return. This price determines how many tax returns firms complete each year. Suppose you are an office manager for a firm like Bret's Accounting and Tax Services and you are trying to determine what your firm should charge next year for tax returns. "Bret's data' provided on the next page and also an excel file is provided to answer these questions. e) How many returns do you expect to be completed if the firms charges $85 per return? f) What is the elasticity at this point in the demand curve? g) Are you on the elastic, inelastic, or unit elastic portion of your demand curve? (Acceptable Answers: Elastic, Inelastic, or Unit) h) Do you recommend an increase, decrease, or no change in the price with this information? (Acceptable Answers: Increase, Decrease, or NC) "Bret's data" is given below following page Return Price Returns Completed 70 932 70 932 75 910 75 920 80 876 80 852 85 811 80 857 80 847 80 865 90 785 90 802 95 789 95 731 100 663 100 709 90 771 90 792 85 831 80 834