Use the image to answer the question.
A demand curve is graphed. A line graph is titled Demand for Peanut Butter. The horizontal axis labeled Quantity goes from 0 to 600 in increments of 100. The vertical axis labeled Price goes from 0 to 2.00 dollars in increments of 0.40 dollars. A line segment passes through points (100, 2.00 dollars), (200, 1.60 dollars), (300, 1.20 dollars), (400, 0.80 dollars) and (500, 0.40 dollars).
What is the elasticity of demand for peanut butter when the price changes from $2.00 to $0.40 as shown by this supply and demand curve?
(1 point)
Responses
0.004
0.004
0.2
0.2
5
5
0.5
0.5
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