In the Barron's article titled "Retail Turkey Isn't Cooking", the author writes: "The tight supplies, which are expected to last well into next year, are mainly due to declining production as farmers, walloped by a spike in grain prices in 2009, cut back. Production was down 10% in 2010, leaving fewer birds this year, and it is down another 2% so far this year [2011]. As a result, wholesale turkey prices in the third quarter [of 2011] hit a record high of 97.9 cents a pound, up more than 20% from the prior five-year average of 79.9 cents a pound".Assuming wholesale prices increased by 23% and output or production and hence consumption [assuming no changes in inventory or imports or exports] decreased 12%, assuming all other variables constant, what is the Price Elasticity of Demand for turkeys wholesale is using the simple arc method; not the midpoint method?Write the answer to 2 decimal points, for example 0.43 or -1.12.