Please answer each question separately in a response posted below. Copy each question, number it (1, 2, 3) and under it write your answer. Your answers should all be in the same note. Follow these directions exactly or else it will inconvenience your team when compiling the final report. 3. Price Elasticity 1. Discuss what actions the company should take in setting the price of the Standard box given its price elasticity of demand. 2. Discuss what actions the company should take in setting the price of the Deluxe box given its price elasticity of demand. 3. Assuming the price elasticity of supply for the Standard box is inelastic, explain the key factors that the company must consider in expanding production