Table 52 -Refer to Table 5

Multiple Choice

Table 5.2
$\begin{array}{c}\begin{array}{lll}\\ \text {Old}\\ \text {New}\end{array}\begin{array}{lll}\text {Quantity}\\\hline 20\\10\end{array}\begin{array}{lll}\text{ Price}\\\hline \$ 40 \\ \$ 60 \end{array}\end{array}$


-Refer to Table 5.2,which shows the change in the quantity demanded for a product as a result of a change in the price of the product.Use the information to calculate the value of the price elasticity of demand.

A) ?2/3
B) ?1/3
C) ?3/5
D) ?5/3
E) 0