If you could please help me out with this question I would appreciate it a lot.

and if you could show all the steps and explanations to each part

2. Problem 1 Elastici . ' of Demand 18 Marks You own a small-town movie theatre. You currently charge $5 per ticket for everyone who comes to your movies. Your friend who took an economics course in college tells you that there may be a way to increase your total revenue. Given the demand curves shown, answer the following questions. Adult Demand Child Demand 5 10 15 2O 25 30 35 40 45 50 Quantity in. \"That is your current total revenue for both groups? 5 Marks b. The elasticity of demand is more elastic in which market? 1 Mark c. WThich market has the more inelastic demand? 1 Mark d. What is the elasticity of demand between the prices of $8 and $5 in the adult market? Is this elastic or inelastic? [Use the mid-point formula}. 4 Marks e. \"That is the elasticity of demand between $5 and $3 in the children's market? Is this elastic or inelastic? (Use the mid-point formula). 4 Marks f. Given the graphs and what your friend knows about economics, he recommends you increase the price of adult tickets to $8 each and lower the price of a child's ticket to $3. How much could you increase total revenue if you take his advice? 3 IVIarks