Problem 9 The Squish, an upscale 150-seat restaurant, revises its menu every six months. The revistons are based, in part, on the price elasticity of demand for their menu items. During the thirty day periods before and after the last menu revision, the selling prices and quantity sold of three items were as follows: Item Prior to Revision After Revision Price Quantity Price Quantity Super Burger $4.95 450 $5.45 400 Golden Chicken $6.45 $5.95 1,000 Ocean Delight $6.45 600 $6.95 400 The above sales quantities have remained fairly constant each month since the last menu revision Required: 800 1. Compute the price elasticity of demand for each menu item. 2. Advise Kay Rae, the manager, of the implications of your results for each menu item. Complete the following Problems from Chapter 8 Problem 9 - In Part 2, be sure to mention if each item is elastic or inelastic. (6 points)