Suppose between 2015 and 2016 there were 1500 car parks available for use at UQ.

In 2015, the price of a car park was $2 per hour and during teaching periods 44% of these parks were taken by 9 am. At the beginning of 2016, the price of a car park was increased to $2.50 per hour and during teaching periods 33% of these parks were taken by 9am.

Calculate the midpoint elasticity of demand for the car parks at UQ. Round your answer to the nearest two decimal places, giving a positive value for elasticity