Refer to the information provided in Figure 5.3 below to answer ...

[hbsimmons88]

Refer to the information provided in Figure 5.3 below to answer the question(s) that follow.










Refer to Figure 5.3. Using the midpoint formula, if the price of a gardenburger increases from $7 to $9, the price elasticity of demand equals ________ and the increase results in a(n) ________ in total revenue.

◦ -0.375; increase
◦ -0.5; decrease
◦ -2.67; decrease
◦ -8; decrease

[elizabethrperez]

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[hbsimmons88]

Excellent

[Jsherida]

Thanks for the timely response, appreciate it