3. Calculating the Price Elasticity of Demand Service station currently selling gasoline for RM 3.50 per gallon. At this price you can sell 2000 gallons per day. Gasoline station decide to be cutting price to RM 3.30 to attract drivers who have been buying their gas at gas station. Below graph show two possible increase in the quantity of gasoline sold as a result of price. Use the elasticity formula in your calculations. State whether each demand curve is elastic or inelastic between these two prices. (5M) Price (dollars per gallon) $3.50 3.30 C 2.000 2,100 2.500 D Quantity (gallons per day)​