Ransomware Attack Decryptions, December 2015 Charge Per Decryption Supply for Decryptions Price = $294 Demand for Decryptions Q= 1 million Quantity of Decryptions Based on your response to the previous problem, how will entry into the "decryption market" affect revenues of criminals? Explain.Ransomware Attack Decryptions, December 2015 Charge Per Decryption Supply for Decryptions Price = $294 Demand for Decryptions Q= 1 million Quantity of Decryptions The average charge to decrypt data was $294 as of December 2015. By June 2016, the average charge has risen to $679. The FBI estimates that the ransomware industry may have reached a total of $1 billion in ransom paid in 2016. Use demand and supply to indicate what happened in this market between 2015 and 2016. Do you believe the demand moved or supply moved and why?2 Ransomware Attack Decryptions, December 2015 Charge Per Decryption Supply for Decryptions Price = $294 Demand for Decryptions Q= 1 million Quantity of Decryptions Comment on the price elasticity of demand for decryptions. Do you believe it is relatively elastic or inelastic? Why