please help with question 2. thanks

39 40 41 2. After seeing your analysis, Cal decides to lower the price of gas to $2.739 per gallon. After this change, 42 the volume sold increased to 4,400 gallons per day. He asks you to measure his business gains or losses as 43 a result of this price change. Fixed costs are $250 per day. 44 45 What is the price elasticity of demand? 46 Can the demand be characterized as price elastic, price inelastic, or neither? 47 By how much did revenues increase or decrease as a result of the change in price? 48 By how much did profits increase or decline? (Profits are revenue minus all costs.) L M 40 Answer question 2 below. 41 Quantity Price 43 44 Average Average 46 % change % change Elasticity of Demand 48 49 Elasticity: Select One 50 By how much did revenues increase or decrease as a result of the change in price? 51 By how much did profits increase or decline? 52 Variable Gallons Revenue (price x sold per Fixed cost per Cost (cost Cost per Gallon Price gallons) per unit x day volume) 3600 4400 Total Cost (Fixed + Variable) day Daily Profit (revenue - all costs) 57 Answer question 3 below. 58 Quantity Price Supply and Demand Graph Profit Maximization O Type here to search