Clulow Corporation recently changed the selling price of one of its products. Data concerning sales for comparable periods before and after the price change are presented below.

Selling Price	Unit Sales
$34.00	7,800
$31.00	10,010

The product's variable cost is $10.50 per unit. The product's price elasticity of demand as defined in the text is closest to:

Multiple Choice

• -2.70

• -2.02

• -4.13

• -3.19