Assume the quantity sold for U.S. Frisbee Co. frisbees decrease by 14.3%. If the company increases the price of each frisbee from $12 to $16. a-     What is the price elasticity of demand (as absolute value)? b-    Is the demand elastic, inelastic or unit elastic? c-     According to your estimate, what happened to the total revenue after the price increase?

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A: Hi! Thank you for the question but as per the guidelines, we answer only one question at a time.…