Suppose that Mimi plays golf 5 times per month when the price is 40 and 4 times per month when the price is 50 What is the price elasticity of Mimi's demand curve? 1.0 D 0.11 0.8 10.0

To calculate the price elasticity of demand, we use the formula: First, let's calculate the percentage change in quantity demanded:- Initial quantity demanded: 5 times- New quantity demanded: 4 times Next, calculate the percentage change in price:- Initial price: \ 50 Now, plug these values into the elasticity formula: The price elasticity of Mimi's demand curve is (ignoring the negative sign which indicates the inverse relationship between price and quantity demanded). Therefore, the correct answer is:0.8