Suppose loyal well-to-do customers in 2021 and 2022 faced a 5% price rise in Levi's 501 jeans. Draw a straight-line demand curve and explain the relevant details on the price elasticity of demand (PED) in this situation. Describe what would happen to revenue in this case. [In your answer, use hypothetical incremental values (rough guesses from your imagination) for the prices on the y-axis and quantities on the x-axis.]