Scenario Travel Agency: Globe Travel Agency sells Spring Break trips to University of Houston undergraduate students. The fixed cost of Globe is $100,000 and its variable cost is $400 for every student who takes the trip Globe offers. The price elasticity of demand is -2.5 at all levels of price. At present, the price of the trip is $600/student and, at this price, demand is 1200 units. Assume that the number of trips sold always equals demand. Please refer to Scenario Travel Agency. If the price is decreased to $588/unit, the new demand will be approximately given by: 1140 units 1170 units. 1230 units. 1260 units