Solve clearly

Elasticity P Qd $5.00 100 $10.00 50 $15.00 25 $20.00 18 $25.00 15 $30.00 12 $35.00 8 $40.00 6 Should a firm do the following price change from the above schedule: (Answer these questions using the midpoint formula approach and revenue approach). 1. Increase price from $5 to $10. 2. Decrease price from $25 to $5. 3. Increase price from $20 to $25. 4. Decrease price from $30 to $ 20. 5. Increase price from $15 to $20. MIDPOINT FORMULA: Ed = % change in Quantity Q1 - Q2/Q1 + Q2/2 Ed > 1 elastic Ed