Blossom, Inc., sells 700 bottles of perfume a month when the price is $15. A huge increase in resource costs forces Blossom to raise the price to $20, and the firm only manages to sell 450 bottles of perfume. Using the midpoint formula, the price elasticity of demand coefficient is Multiple Choice O 1.52, and Inelastic. O 1 and unit elastic, O 1.52 and elastic. 0.66 and inelastic