M148 Objective 3.11 - Elasticity Big O tires can sell 11,500 Michelin RG Tires per week nationally if the price is set at $76 per tire, but only 9,430 tires if the price is $95 each. Using a EXPONENTIAL demand model 1. What is the price elasticity of demand for this tire at Big O Tires if the price is $85? 260.15 ]* (nearest 0.01) 2. The Tires are inelastic at that price? 3. What is the price elasticity of demand for this tire at Big O Tires if the price is $104? (nearest 0.01) 4. The Tires are elastic at that price? 5. At what price is the maximum revenue per week achieved? SC w nearest $0.01 6. What is that maximum revenue per week? $ * nearest $1,000 7. How many tires will be sold each week at that optimal price ]* (nearest 10 tires)