Paula's Promotions can customize printed logos on desktop cell phone holders. Paula's most popular style sells for $10 and has a marginal cost of $6, which includes a blank holder and the printing process. Paula recently ran a difference-in-difference experiment and determined her demand elasticity is 5. 1) Should Paula raise or lower price? If so, exactly what price? Show your calculations and explain your answer. 2) If imprint.com enters her market as a competitor, what do you think Paula likely have to do