Suppose That,as the Price of Product H Falls from $5

Multiple Choice

Suppose that,as the price of product H falls from $5 to $4,the quantity of H demanded increases from 2,000 to 6,000 units.In this case,what is the elasticity of demand,using the midpoint formula?

A) .9
B) .4
C) 4.5
D) 1.6
E) 3.0