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Refer to the Information Provided in Figure 5

Question 15

Multiple Choice

Refer to the information provided in Figure 5.3 below to answer the questions that follow. Refer to the information provided in Figure 5.3 below to answer the questions that follow. Figure 5.3 -Refer to Figure 5.3. Use the midpoint formula. If the price of a gardenburger is increased from $6 to $8, the price elasticity of demand equals ________ and demand is ________. A) -0.57; inelastic B) -1.75; elastic C) -1.9; inelastic D) -2.0; elastic Figure 5.3
-Refer to Figure 5.3. Use the midpoint formula. If the price of a gardenburger is increased from $6 to $8, the price elasticity of demand equals ________ and demand is ________.


A) -0.57; inelastic
B) -1.75; elastic
C) -1.9; inelastic
D) -2.0; elastic

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