Please explain in detail as to why you choose the answer

_Question 4 Fill in the blanks with the most accurate answer or underline your answer. 4.1. The owner of a local hot dog stand has estimated that if he lowers the price of hot dogs from 4.2. RM2.00 to RM1.50, he will increase sales from 400 to 500 hot dogs per day. Using the midpoint formula, the demand for hot dogs is A) elastic. B) inelastic. C) unit elastic. D) perfectly elastic. At a price of RM20, a store can sell 24 picture frames a day. At a price of RM18 the store can sell 33 picture frames a day. Since total revenue by the price decrease, demand must be A) is increased; elastic B) is increased; inelastic C) is increased; unit elastic D) is decreased; elastic (2 Marks) TOTAL 20 MARKS