please help with question 3. I am attaching question #2's info below to help with question 3. Please layout in table format for question 3. thanks for your help.

889 3. After seeing the result (from question 2), Cal decided to lower his price once again to $2.729 per gallon. Once again, volume sold increases and settles at 4,800 gallons per day. He is worried that any further price cut will cause the discount station across the street to also lower its price. What is the price elasticity of demand? Can the demand be characterized as price elastic, price inelastic, or neither? By how much did revenues increase or decrease as a result of the change in price? 64 By how much did profits increase or decline? (Profits are revenue minus all costs.) 56 $7 Answer question 3 below. $8 Quantity Price 59 4800 2.729 50 4400 2.739 Average Average 4000 2.749 % change % change 9 .090% -0.365% Elasticity of Demand 24.900 4 16 Elasticity: Price Elastic 57 By how much did revenues increase or decrease as a result of the change in price? 58 By how much did profits increase or decline? $ 345.20 $ 1,047.60 Gallons sold per day Variable Cost Daily Profit Fixed cost per Price Revenue (price x gallons) Cost per Gallon (cost per unit x Total Cost (Fixed (revenue-all day +Variable) volume) costs) 2.729 $ 13,099.20 $ 2.381 $ 11,428.80 $ 250.00 $ 11,428.80 S 1,670.40 2.739$ 12,051.60 $ 2.381 $ 10,476.40 $ 250.00 $ 10,726.40 $ 1,325.20 4800 4400 S $ UwN Profit Maximization Variable Cost Gallons Fixed cost per Total Cost (Fixed Daily Profit Irevenue-all 2. After seeing your analysis, Cal decides to lower the price of gas to $2.739 per gallon. After this change, the volume sold increased to 4,400 gallons per day. He asks you to measure his business gains or losses as a result of this price change. Fixed costs are $250 per day. What is the price elasticity of demand? Can the demand be characterized as price elastic, price inelastic, or neither? By how much did revenues increase or decrease as a result of the change in price? By how much did profits increase or decline? (Profits are revenue minus all costs.) WP 8 ,822.00 $ 1,110.80 40 Answer question 2 below. Quantity Price 3600 2.759 4400 2.739 44 Average Average 4000 2.749 46 % change % change 470 .222% 0.007% Elasticity of Demand -30.656 49 Elasticity: Price Elastic 50 By how much did revenues increase or decrease as a result of the change in price? $ (2,119.20) 51 By how much did profits increase or decline? 214.40 52 Gallons Variable Cost Daily Profit Price Revenue (price x gallons) Cost per Gallon Fixed cost per Total Cost (Fixed sold per day (cost per unit x (revenue-all volume) day + Variable) costs) 3600 $ 2.759 $ 9,932.40 $ 2.381 $ 8,571.60 $ 250.00 $ 8,821.605 1.110.80 55 4400 $ 2.739 $ 12,051.60 $ 2.381 $ 10,476.40 $ 250.00 $ 10,726.40 $ 1,325.20 56 57 Answer question 3 below. 58 Quantity Price 59 4800 2.729 60 4400 2.739 61 Average Average 62 4 000 2.749