Elasticity questions A video store owner lS trying to decide whether she should raise the rental price of her DVDs . In the course of her decision, she notes that the national price elasticity of demand for DVDs is -0.8. a. What does this imply about the elasticity of demand for DVDs? What would happen if she raised her prices by 10% to her DVD sales? b. Given the above information, should the owner raise or lower prices in order to' Increase revenues? c. The owner follows what she believes is the correct prescription for increasing revenues, but finds that her revenues decrease. Can you explain why this might have happened