QUESTION 4 Study the demand schedule for hamburgers below: Price (R) Quantity demanded (kg) 38 36 36 39 Assume that the price has increased from R36 to R38. What advice would you give the hamburger franchisee owner? "The price of hamburgers should be priced at R (round off to ZERO decimal places) to maximise revenue, as hamburgers are relatively (elastic/inelastic) with an elasticity coefficient of (round off to TWO decimal places, and only round off at the END OF THE CALCULATION) using the ARC elasticity method."Assume product A originally sold for R20 and the quantity demanded at this price was 3200 units. The price then fell to R10, and at this new price, the quantity demanded increased to 4000 units. The elasticity coefficient of demand at R20 is (round off to one decimal place, and only round off at the end of the calculation) and can, therefore, be considered relatively (elastic/inelastic). The elasticity coefficient of demand at R10 is (round off to one decimal place, and only round off at the end of the calculation) and can, therefore, be considered relatively (elastic/inelastic). And, since the total revenue generated at R20 is R (round off to zero decimal places), and the total revenue generated at R10 is R (round off to zero decimal places), it is advisable that product A be sold for R (R20/R10).QUESTION 3 Study the demand schedule for hamburgers below: Price (R) Quantity demanded (kg) 11 7 6 10 Assume that the price has increased from R6 to R11. What advice would you give the hamburger franchisee owner? "The price of hamburgers should be priced at R ( round off to ZERO decimal places) to maximise revenue, as hamburgers are relatively (elastic/inelastic) with an elasticity coefficient of (round off to ONE decimal place, and only round off at the END OF THE CALCULATION) using the ARC elasticity method."