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At a price of $100 each, Beachside Canoe Rentals rented 11 canoes. When it increased its rental price to $125 each, 9 canoes were rented.

At a price of $100 each, Beachside Canoe Rentals rented 11 canoes. When it increased its rental price to $125 each, 9 canoes were rented. Calculate the absolute value of the price elasticity of demand for canoe rentals, using the arc formula.

Group of answer choices:

1, 1.25

2, 0.75

3, 0.9

4, 2

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