Question

Suppose that on a typical day, a restaurant owner usually sells 18 club sandwiches.

However, afterloweringthe price of a club sandwich from $6.75 to $5.95, the owner discovered that salesincreasedto 23 sandwiches per day.

Based on this information, the restaurant owner calculated that the demand elasticity for club sandwiches was approximately:

Group of answer choices:

-0.05

-0.52

-1.94

-20.2