Chipotle has been selling 5,000,000 burritos per month for $6.50. When Chipotle increased the price to $7.25 they sold only 4,000,000 burritos. What is the price elasticity of demand? If the marginal cost is $2.50 per burrito, was raising the price profitable? Use economic intuition and the simple pricing model to explain why or why not.