Burger Queen (BQ) conducted research with respect to the price sensitivity of their premiere burger, know widely as The Boss. In the month of July, BQ reduced the price of The Boss from $7.99 to $7.49, and experienced an increase in sales from 86,000 units per month in June to 93,000 units in July. In the past, June and July unit sales have been about the same. No additional promotions or changes were made for the study period. Answer the following questions related to the product, being sure to show work and explain where appropriate: (a) Calculate the PED for The Boss given this info. (b) Is the PED for The Boss elastic or inelastic, and who do you know? (c) Calculate the dollar sales (Total Revenues) for each of the months of June and July, given your answers in a and b. (d) Given this PED, let's say BQ raises the price of the Boss by $.25 (from $7.99) for the month of August. (e) Calculate the percent change in price this would represent. (f) Now use the PED and this proposed change in price, and calculate the unit and dollar sales for the month of August