TJs Restaurant lowers the price of its steak dinners from $17 each to $14 each as part of an advertising campaign. As a result, sales of steak dinners increase from 35 per week to 47 per week.

(a) Calculate the price elasticity fo demand for steak dinners for the price range given. Please show your work...(3 marks)

(b) Is the demand for the restaurant's steak dinners elastic or inelastic? Please explain...(2 marks)

(c) Chris Lee, the manager of TJs Restaurant, suggests raising the price of steak dinners in order to increase total revenue. Is this a good idea? Explain... (3 marks)

(d)Separate Question: Good X has a price elasticity of 2.5. The price of good X is $25 each. If the price of good X increases to $30 each, what is the percentage change in Qd? Please show your work...(4 marks)