Problem 2: On December 18, 2019, the price of Hulu's premium service, jumped up $10 to $54.99. At the beginning of the third quarter of that year, Hulu had approximately 28 million subscribers in the U.S. At the beginning of the second quarter of the next year (2020), the number of subscribers dropped to 27.7 million. What was the service's average arc elasticity of demand over this period? Should Hulu raise the price for this service even more? Why or why not? Show work