Suppose you plan to increase the price for your spooky haunted house hayrides from $25 to $35. As a result, you expect that ticket sales will fall from 1,100 tickets to 900 tickets. a. Based upon the information above, calculate the own price elasticity of demand and characterize demand as being elastic or inelastic. b. Based upon your answer in part (a) above, would you expect the increase in price to increase or decrease revenues? What about profits? Explain