Listen Suppose you are a manager of a local burger restaurant. You have a special for one week offering a cheeseburger, fries and a soft drink for $4-a reduction from the normal price of $5. Your weekly sales for the combo increase from 50 to 75 dinners. What is the implied price elasticity of demand for the combo? Demand elasticity of -0.40 You cannot calculate a demand elasticity from this information Demand elasticity of -2.5 Demand elasticity of -1.2 Page 22 of 35 Next PageListen A recent study estimated that, for vegetable oil X, its own price elasticity of demand is about -0.15. If the price of this oil decreases by 2%, quantity demanded will: Increase by 0.3% Decrease by 3.0% Decrease by 0.3 % Increase by 3.0% Page 20 of 35 Next Page