Question 5 4 pts A local cinema increases its ticket price from $20 to $24. The quantity demanded of tickets sold decreases by 25% per week. What is the price elasticity of demand? Use the percentage change method ( Ed = %AQ / %AP ). (Note: you are given the percentage change in Quantity in the question but you need to firstly calculate the percentage change in Price from the numbers given. ) You must put the absolute value in. (In other words, do not put negative sign, even though it is an inverse mathematical relationship here b/w P and Q.) (Also do not type in calculation working ; just type in your final answer as a number.)