When a Product's Price Increases from $800 to $1,200, the Quantity

Multiple Choice

When a product's price increases from $800 to $1,200, the quantity demanded decreases from 11,000 to 9,000. Based on this information, the price elasticity of demand (in absolute terms) is estimated to be equal to:

A) ​0.5.
B) ​2.0.
C) ​0.25.
D) ​4.0.