Suppose between2016and2017there were1,500car parks available for use at Boston university.

In2016, the price of a car park was$1.50per hour and during teaching periods45%of these parks were taken by9am.At the beginning of2017, the price of a car park was increased to$2per hour and during teaching periods31%of these parks were taken by9am.It cannot be assumed that the demand curve is linear.

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