Refer to the Information Provided in Figure 5

Multiple Choice

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 decreases from $9 to $8, the price elasticity of demand equals ________ and demand is ________.

A) 6.33; elastic
B) -0.16; inelastic
C) -6.33; elastic
D) -19.0; inelastic