please refer to the question below in the picture

Question 1. Elasticities (9 points) A) Suppose you are the administrator in charge of setting tolls for the Golden Gate Bridge. At the current toll of $1/trip, 100,000 trips per hour are taken across the bridge. If the price elasticity of demand for trips is 2.0, what will happen to the number of trips taken per hour if you raise the toll by 10 percent? What will happen with total revenue? Explain! (4 p) B) Now suppose that the price elasticity had been not 2.0 but 0.5. How would the number of trips and total revenue then be affected by a 10 percent increase in the toll? (4 p) C) Under what conditions is it a good idea to increase price in order to increase total revenue? (1 p)