Last year Jojo spent $1.50 per litre on 100 litres of gasoline. This year, the prices are 24 percent higher at $1.86 per litre. So, he cut back his consumption to 88 litres, which is a 12 percent decrease. Based on this information, Jojo's price elasticity of gasoline is ____. Question 15 Select one: A. 0.20 B. 2.0 C. 2.4 D. 0.50 E. 0.75