(Figure: Interpreting Price Changes) Based on the Graph, If the Price

Multiple Choice

(Figure: Interpreting Price Changes) Based on the graph, if the price of shoes increases from $40 to $80 (from point d to point b) , the absolute value of the price elasticity of demand (using the midpoint method) is

A) 0.66.
B) 1.
C) 1.5.
D) 0.75.