context and data could understand its main message. Price X Quantity Required Elements (all elements must be in Sheet] in your Excel file) (1) Calculate total revenue for each toll road at each price in cells F2 & F3, G2 & G3, H2 & H3, and 12 & 13. (2) Calculate profit for each toll road at each price in cells J2 & J3, K2 & K3, L2 & L3, and M2 & M3. Ignoring the large sunk cost associated with building the toll roads, that was paid many years ago, each day that a toll road is opened costs a fixed $100,000 plus $1 per car round trip. Note that the operating costs are the same for all toll roads. (3) Calculate the change in the number of round trips one each toll road when the price rises from $10 to $15 per round trip. Report the change in round trips in cells B5-E5 for toll roads 1-4. (4) Calculate the change in revenue when the price rises from $10 to $15 per round trip. Report the revenue changes in cells B7-E7 for toll roads 1-4. (5) Calculate the change in profit when the price rises from $10 to $15 per round trip. Report the profit changes in cells B9-E9 for toll roads 1-4. (6) Calculate the elasticity of demand jusing the mid-point formula for each toll road. Remember that elasticities should be reported as absolute values. Report these elasticities inPrice Toll Road Toll Road 2 Toll Road = Toll Road 4 Rev 1 Rev 2 Rev 3 Rev 4 Profit 1 Profit 2 Profit 3 Profit 4 10 141600 123200 108700 80700 1416000 1232000 1087000 807000 15 112400 84800 63050 21050 1686000 1272000 945750 315750