Refer to the Information Provided in Figure 5

question 179

Multiple Choice

Refer to the information provided in Figure 5.2 below to answer the question(s) that follow. Figure 5.2
-Refer to Figure 5.2. If the price of a hamburger increases from $2 to $4, the price elasticity of demand equals ________. Use the midpoint formula.

• A) -0.33
• B) -2.0
• C) -3.0
• D) -5.0