2. Recently, Verizon Wireless ran a pricing trial in order to estimate the elasticity of demand for its services. The manager selected three states that were representative of its entire service area and increase prices by 5 percent to customers in those areas. On week later, the number of customers enrolled in Verizon's cellular plans declined by 4 percent in those states, awhile enrollments in states where the price were not increased remained flat. The manager used this information to estimate the own price elasticity of demand and, based on her findings, immediately increased prices in all market areas for the firm by 5 percent in an attempt to boost the company's annual revenue. One year later, the manager was surprised because Verizon's annual revenue were 10 percent lower than those in the previous year before the prices were increased --- the price increase led to a reduction in the company's revenue. What error did the manager make? Please give an explanation