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Refer to the Information Provided in Figure 5

question 70

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Refer to the information provided in Figure 5.3 below to answer the question(s) that follow. Refer to the information provided in Figure 5.3 below to answer the question(s)  that follow.   Figure 5.3 -Refer to Figure 5.3. Use the midpoint formula. If the price of a gardenburger increases from $8 to $10, the price elasticity of demand equals ________ and demand is ________. A)  4.5; elastic B)  -0.5; inelastic C)  -4.5; elastic D)  -9.0; inelastic Figure 5.3
-Refer to Figure 5.3. Use the midpoint formula. If the price of a gardenburger increases from $8 to $10, the price elasticity of demand equals ________ and demand is ________.


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