When heavy rains ruined the banana crop in Central America, the price of bananas rose from $2 per kilo to $4 per kilo.Banana sellers sold fewer bananas but their revenues from banana sales remained unchanged.

a. By what percent did quantity demanded of bananas fall due to the higher price? Use the mid-point method to calculate this.

b. What is the price elasticity of demand for bananas in this price range? Explain your answer.