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Wayne's Weed Whackers, Inc., produces and sells two lines of trimmers. One is a line that is battery powered using 20-volt lithium ion rechargeable batteries.

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Wayne's Weed Whackers, Inc., produces and sells two lines of trimmers. One is a line that is battery powered using 20-volt lithium ion rechargeable batteries. The other line is gas-powered. At the end of the company's fiscal year, brand manager Ward Clever has asked you to evaluate the sales of the battery. powered line using the data in the table below. Month Units Sold Expenditures Price, P Price, Pa January 3,500 $11,000 $152 $175 February 4,500 $11,000 $148 $175 March 3,500 $10,200 $148 $175 April 2,800 $10,200 $148 $167 May 4,000 $10,750 $150 $175 June 8,000 $10,750 $140 $175 July 4,000 $9,350 $150 $175 August 3,000 $8,850 $150 $175 September 4,500 $10,500 $150 $185 October 4,000 $9,500 $148 $177 November 3,000 $9,500 $152 $177 December 4,000 $9,500 $152 $189 In particular, Ward has asked you to estimate the relevant demand elasticities. Note that by restricting your analysis to consecutive months you can minimize the possible impact of changes in any additional factors not observed that might be affecting the trimmer market. Note also that you are to estimate the average elasticities over the year. a. Calculate and interpret the average arc advertising elasticity of demand for battery powered trimmers. b. Calculate and interpret the average arc price elasticity of demand for battery powered trimmers

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