Subjects taken at the University of Queensland nearly always prescribe a textbook. The textbook can be examinable so it may be necessary for students to obtain the text, if they wish to get a good grade. Answer the following questions: a. If a subject prescribes a specific, 1st edition textbook, then demand will be ceteris paribus, as there are no substitute products available (such as previous editions of the textbook or textbooks with similar content). Type I for Inelastic, E for Elastic or U for Unit Elastic. b. Suppose the UQ branch of the Co-op Bookshop sold a course textbook in 2014 for $159.99 and sold 348 copies that year. In 2015, the same course textbook was sold for $139.99 and sold 363 copies. It cannot be assumed that the demand curve is linear. What is the price elasticity of demand using the mid-point formula? Answer to the nearest two decimal places. c. Assume the Co-op Bookshop is trying to maximise revenue. Considering your findings in part b), did the Co-op Bookshop's decision to decrease the price of the textbook agree with increasing revenue? Type Y for Yes, N for No or U for Unknown