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. Using the midpoint formula, if the price of a gardenburger increases from $7 to $9, the price elasticity of demand equals ________ and the increase results in a(n) ________ in total revenue.

A) -0.375; increase
B) -0.5; decrease
C) -2.67; decrease
D) -8; decrease