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Suppose that the following table shows the weekly visits to an amusement park as a function of the daily admission fee charged per visitor. Use

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Suppose that the following table shows the weekly visits to an amusement park as a function of the daily admission fee charged per visitor. Use the information below to answer questions from 2 to 5. Daily fee per visitor # of visitors $50 200 $40 400 $30 600 $20 800 $10 10000 Question: What is the arc price elasticity of demand between the prices of $40 and $20 per day? Hint: ignore the sign of the value of elasticity. 2.5 O 0.78 1.5 1.00

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