Question
Price of Book $14.99
9.99
Copies Sold at That Price 100,000
174.000
Total Revenue at That Price 1,499,000
1,738,000
Based on the data in the table and using the midpoint formula, between a price of $9.99 and $14.99, the price elasticity of demand for books is
A) -0.74.
B) -1.16.
C) -1.35.
D) -14.8