You own a clothing store and decide to raise the prices of your baseball caps to potentially increase profit. Review changes in pricing, and measure demand elasticity by first computing total expenditure. Then, determine if the results of the price changes showed inelastic or elastic demand. (Enter the total value in numbers, no symbols.) Pricing for Baseball Caps Price Quantity Demanded Total Expenditure $10 5 $ 50 $7 10 $ 70 $5 18 $ 90 In this example, pricing is elastic or inelastic? Elastic Pricing for Baseball Caps Price Quantity Demanded Total Expenditure $10 6 $ 60 $5 10 $ 50 In this example, pricing is elastic or inelastic