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 Either elasticity or percent profit breakeven Price elasticity of demand, because it's in the problem. Percent profit breakeven, because the problem mentions variable cost