The table and graph below describe the supply of umbrellas per month in Peoria. Supply of Umbrellas Price (dollars) $150 Quantity of Umbrellas Supplied 1,000 120 800 100 600 80 400 60 200 40 Instructions: Round your answers to two decimal places. a. Using the regular percentage change method, the price of umbrellas increases from $60 per umbrella to $80 per umbrella? Price increases by 7% Quantity supplied increases by | % Therefore, the elasticity of supply is b. Using the regular percentage change method, the price of umbrellas falls from $120 per umbrella to $100 per umbrella. Price decreases by