Consider the market for a new DVD movie, where the price is initially $22 and 16 copies are sold per day at a superstore, as indicated in the figure to the right.The superstore is considering lowering the price to $18.What is the price elasticity of demand between these two prices (use the Midpoint Formula)?The price elasticity of demand is (?)enter your response here. (Enter your response as a real number rounded to two decimal places.)