If the Price of Coffee Increases from $2

Multiple Choice

If the price of coffee increases from $2.50 per cup to $3.00 per cup and the quantity demanded goes down from 120 cups per week to 115 cups per week, the absolute value of price elasticity of demand in that price range is approximately

A) 0.23.
B) 4.35.
C) 0.93.
D) 2.34.