16. Suppose that the quantity of pizza demanded decreased by 25 percent after an increase in price of 10 percent. What is the price elasticity of demand for pizza? A) 2.50 B) 0.4 C) -2.50 17. When the price of a movie ticket increases from $5 to $10, the quantity of tickets demanded decreases from 500 to 400 a day. What is the price elasticity of demand for movie tickets? B) 0.3 C) 1.3 D) 2.3 18. Suppose a rise in the price of peaches from $5.50 to $6.50 per bushel decreases the quantity demanded from 12,500 to 11,500 bushels. The price elasticity of demand is A) 0.5. B) 1.0. ) 2.0. D) 1000.0. 19. Suppose a rise in the price of peaches from $5.50 to $10.50 per bushel decreases the quantity demanded from 12,000 to 6,000 bushels. The price elasticity of demand is A) 3.0 B) 1.0. C) 2.0. D) 4.0. 20. A fall in the price of lemons from $11.0 to $9.0 per bushel increases the quantity demanded from 19,000 to 20,000 bushels. The price elasticity of demand is A) 0.80. B) 0.12 C) 1.25. D) 2.00. 21. At the midpoint of a downward sloping straight-line demand curve, the demand A) is elastic. B) is unit elastic