Suppose the demand for all-day parking at campus is given byP = 25 -0.00125Q, where P is the price in dollarsand Q is the quantity demanded.

1.The price elasticity of demand at a price of $20 is _________.

2.The price elasticity of demand at a price of $5 is _________.

3.Suppose the current price is $20, if the goalis to increase totalrevenue, would you recommend increasing the price of parking from $20 to $22?Briefly(in a sentence or two)explain your answer.