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Example Demand for Beef Fajitas Sales figures show that Mi Guadalajara Mexican Restaurant sold 500 beef fajitas, one of its most popular plates, per week when their price was $16.95 each and 480 beef fajitas per week at their current price of $17.95 each. c. Obtain a formula for the price elasticity of demand E. d. If the owner decides to increase the selling price to $18.95 per beef fajita. What would be the corresponding price elasticity of demand? Round to two decimal places. Interpret your answer. =500180=320=367. icas to an exproximart o.ur't acreast in suannry asmanas. Danand for 1. Inamat in quanrity semanaes: 500320800 (100) Than 1. =366 7. Chanat in trice: 10.9525.9516.95(100)=53.097 g. What is the revenue when the fajita beef plate is at $25.95 ? 25.95=25.95(320)25.958,304Leverue=88,304 h. Find the range of prices p for which the demand is elastic and the range for which the demand is inelastic? i. Use your formula for E to determine the selling price that would have resulted in the maximum weekly revenue, interpret your result. j. What, to the nearest cent, would have been the resulting maximum weekly revenue