QUESTION 7 If the brewer of Dominion Ale raises the price of its ale from $6.99 per six-pack to $7.99 per six-pack and discovers that, as a result, revenues on the sale of its ale fell, the demand for Dominion Ale over the price-change range $6.99-$7.99 is elastic the demand for Dominion Ale over the price-change range $6.99-$7.99 is inelastic the supply of Dominion Ale over the price-change range $6.99-$7.99 is elastic the supply of Dominion Ale over the price-change range $6.99-$7.99 is inelastic QUESTION 8 Given your answer to question #7 if the brewer of Dominion Ale instead lowers the price of its ale from $6.99 per six-pack to 5.99 per six-pack, the revenues this brewer will earn on sales of its ale will rise fall There is not enough information to know the direction in which the revenues will change. be unaffected