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Lego is a popular children's toy which consists of colourful connecting plastic bricks which can be used to construct vehicles and buildings. There are several competitors to Lego: Legoclones including Mega Bloke, K'NEX and Best-Lock. However, The Lego Group has the exclusive rights to produce certain themed Lego sets including Harry Potter, The Hobbit and Star Wars. Answer the following questions: a. The existence of other Lego-like products, manufactured by other companies, are examples of . Type C- for Complements, S for Substitutes or N for Neither. b. Suppose The Lego Group currently has a box of The Hobbit themed Lego for a recommended retail price of $39.99 and they sell 30,000 units per year, in Brisbane. Economic modelling has sl'hown that if they increased the price to $42.99 they would sell 25,000 units per year. in Brisbane. What is the price elasticity of demand using the mid-point t'ori'r'lula'lI . Answer to the nearest two decimal places. 4:. Given what you have found in part b, if The Lego Group aims to maximise revenue, they should the price. Type I for Increase, D for Decrease or N for Not change