Lego is a popular child ren's toy which consists of colourful connecting plastic bricks which can be used to construct vehicles and buildings. There are several competitors to Lego: Legoclones including Mega Bloks, K'NEX and Best-Lock. However, The Lego Group has the exclusive rights to produce certain themed Lego sets including Harry Potter, The Hobbit and Star Wars. Answer the following questions: 3. Suppose The Lego group knows that at the current price for their Star 1il'lnl'ars XWing Star ghter Lego set, demand is inelastic. A114: increase in the price would lead to a less than tit: decrease in sets demanded, ceteris paribus. Answeras a whole number [with no decimal places}. b. Suppose The Lego Group currently has a box of Harry Potter themed Lego for a recommended retail price of $339.99 and they sell 400510\" units per yearl worldwide. Economic modelling has shown that if they increased the price to $33.09 they would sell 309,000 units per year, worldwide. What is the price elasticity of demand using the midpoint formula? .Answer to two decimal places. C. Given what you have found in part b, if The Lego Group aims to maximise revenue, they should the price. Type I for Increaser D for Decrease or N for Not change