Peanut-Butter Burgers: Demand, Elasticity and Profit The monthly demand for peanut-butter burgers from Mugshots Grill and Bar in Hattiesburg, is given by the following equation: P = 12 Q/400 (a) Placing price on the vertical axis and quantity on the horizontal, graph the PB Burger demand curve. (Hand-drawn sketch here is fine... Hint: What's the y-intercept and what's the slope?) (b) Suppose Mugshots cuts its PB Burger price from $10 to $9. What is the % change in quantity? What is the % change in price? What is the demand elasticity at P = $10? (c) Calculate PB Burger demand elasticity at $9, $8, $7, $6, and $5. Does demand get more or less elastic as the price falls? What happens to the % changes in quantity and price?