Blossom, Inc., sells 900 bottles of perfume a month when the price is $10. A huge increase in resource costs forces Blossom to raise the price to $12, and the firm only manages to sell 750 bottles of perfume. Using the midpoint formula, the price elasticity of demand coefficient is   Multiple Choice   1 and elastic.   1.4 and elastic.   1 and unit elastic.   1.67 and elastic.

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