Refer to the information provided in Figure 5.2 below to answer the question(s) that follow.
?Figure 5.2Refer to Figure 5.2. If the price of a hamburger decreases from $6 to $2, the price elasticity of demand equals ________. Use the midpoint formula.
A. -0.25
B. -0.5
C. -2.0
D. -4.0
Answer: B
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