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Price(pound per bushel) Quantity demanded (bushels) 8 2000 7 4000 6 6000 5 8000 4 10000 2 12000 The table above gives the demand schedule

Price(pound per bushel) Quantity demanded (bushels)

8 2000

7 4000

6 6000

5 8000

4 10000

2 12000

The table above gives the demand schedule for snow peas. The price elasticity of demand between $6.00 and $7.00 per bushel is

A) 1.0.

B) 2.0.

C) 2.6.

D) 5.0.

Answer: C

Can you show me how to calculate the price elasticity of demand to come up with answer C?

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