Aspire incorporated is into education consultancy. In 2011,A

Aspire incorporated is into education consultancy. In 2011,ABC charges consultancy fee of $1000 per service rendered to each customer. Atotal of ten (10) institutions registered with Aspire in 2011. An economicresearch firm has estimated that the price elasticity for the company’sservices as at January 2012 is -2.5. As the chief marketing of Aspire, You arerequired toa. Use the arcelasticity of demand formulae to determine the price the company should chargeif it wants to increase the  customerbase to 20 institutionsb.  Calculate the change in total revenue if the new price isimplemented.

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