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2 Last week, Discount Food Stores, Inc. reduced the average price on the 22 ounce size of Dishwashing Liquid by 2%. In response, sales jumped by 5%. A. Calculate the point price elasticity of Demand for Dishwashing Liquid. B. Holding all else equal, would a further reduction in price result in higher or lower total revenue? Explain. C. Calculate the optimum price for Dishwashing Liquid if marginal cost is $1.50 per unit