Exhibit 5-3 -Use the Information in Exhibit 5-3 to Calculate the Value

question 100

Multiple Choice

Exhibit 5-3

-Use the information in Exhibit 5-3 to calculate the value of price elasticity of demand for restaurant meals.

• A) -1/2
• B) -5/3
• C) -3/5
• D) -3/7
• E) -7/3

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Definitions:

Debit Card

A card that looks like a credit card but works like a check; using it results in a direct, immediate, electronic payment from the cardholder’s checking account to a merchant or third party.