Refer to the Information Provided in Figure 5

question 23

Multiple Choice

Refer to the information provided in Figure 5.2 below to answer the questions that follow. Figure 5.2
-Refer to Figure 5.2. If the price of a hamburger is increased from $6 to $8, the price elasticity of demand equals ________. Use the midpoint formula.

• A) -0.24
• B) -1.0
• C) -1.4
• D) -2.0