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Annual Market for Fresh Blue Berries, Tasmania 2022 and 2023 Price ($ per 125g punnet) D z P2023 =$5.50 P3027= $4.50 (2nas^=360 Q2093 =460 0202:=540

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Annual Market for Fresh Blue Berries, Tasmania 2022 and 2023 Price ($ per 125g punnet) D z P2023" =$5.50 P3027"= $4.50 (2nas^=360 Q2093 =460 0202:=540 Quantity [thousands of punnets) i. Use the mid-point formula to calculate the price elasticity of demand for blue berries in Tasmania over 2022 and 2023 for Di and De. Which demand curve is more elastic, Di or D2? Explain what this result means. (15 marks) ii. Explain whether sellers should raise or lower prices in order to maximise revenue if they are on D2 and the price is $5.50 per punnet by using the elasticity you found in

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