In September 2012, the Average Price of Gasoline in the United

Multiple Choice

In September 2012, the average price of gasoline in the United States was $3.91 per gallon and consumers bought 5 percent less gasoline than they had during September 2011, when the average price was $3.66 per gallon. Based on these numbers, what was the price elasticity of demand for gasoline from September 2011 to September 2012?

A) -0.33
B) -0.76
C) -2.96
D) -6.75