The manager at Ruby Red Movie Theater decided to change the prices of concession stand items as well as tickets this month in an effort to increase revenues. Below, you are provided with prices for last month and this month as well as the quantities demanded for both months. Use this information when answering questions A-H below.

1. Calculate the price elasticity of demand for large drinks. (Show your work.)
2. Calculate the price elasticity of demand for large popcorn. (Show your work.)

		Price		Quantity Demanded
Item		Last Month		This Month		Last Month		This Month
Large Drink	$5.00		$5.50		161		150
Large Popcorn	$7.50		$8.00		120		101
Small Drink	$2.00		$2.25		75		80
Small Popcorn	$4.00		$3.50		47		55
Candy		$4.00		$3.50		57		68
Hot Dog		$5.00		$5.25		35		30
Movie Ticket	$9.00		$8.00		428		597