The problem says, "Paul's Pastries sells 250 cheese danish pastries every week. At the current selling price of $2.25 each, Paul's believes that price elasticity of demand is -1.5. Paul's variable cost to make one cheese danish is $1.75. If Paul's raises its selling price by 5%, how many cheese danish will Paul's sell at the new price?" Which tool should you use to answer this question? Choose the best answer. Price elasticity of demand, because elasticity tells you how demand is going to change as price changes Price elasticity of demand, because it's in the problem. Either elasticity or percent profit breakeven Percent profit breakeven, because the problem mentions variable cost Question 2 (1 point) Saved The question says, "Sipho's Electronics sells a basic unlocked smartphone for $125. Sipho's buys these phones for $75 each. Price elasticity at their current selling price is estimated at -2.1.Sipho's is thinking about raising its selling price by $10. If the change in quantity sold just matches the percent profit breakeven for this situation, how much will Sipho's profit change after the price increase?" Which tool should you use to answer this question? Elasticity, because the question does not mention a change in variable cost. Percent profit breakeven, because the question is about profit. Neither-just put down $0. Price elasticity, because I need to know the change in quantity