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Data below refers to price of lunch meals in a budget hotel. Use the following to answer questions #3 Price of lunch Quantity Demanded of lunch 14 220 16 200 18 180 20 160 22 140 3a). Refer to the information above to answer this question. What is the elasticity of demand for lunch in the $20 to $22 range? 3b). Refer to the information above to answer this question. Over what price range is demand for lunch inelastic? 3c). Why will a monopolist such as BC Ferries choose not to produce in the inelastic range of its demand curve