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Suppose that there are two products, A and B. Product A currently sells for $5, and demand at this price is 1,700 units. If the price fell to $4.60, demand would increase to 2,000 units. Product B currently sells for $8 and demand at this price is 9,500 units. if the price fell to $7.50, demand would increase to 10,000 units. In each of these cases (and using the 'point' method), calculate: (a) The price elasticity of demand (PED) for the price changes given (b) The effect on total revenue, if demand is met in full at both the old and the new prices, of the change in price