PART 4 Given that 630,800 gallons of motor gasoline were sold per day in North Carolina in February 2009 when the average price was $1.861 per gallon and 620,500 gallons were sold per day in March 2009 when the average price was $1.903 per gallon. (DOE & DOT)
Using the midpoint method, what is the price elasticity of demand for motor gasoline? (Include 0 before decimal if needed and round answer to nearest hundredth.)