question archive Calculate the price elasticity of demand using the method covered in class and the information provided below

Subject:EconomicsPrice: Bought3

Calculate the price elasticity of demand using the method covered in class and the information provided below.

Demand curve: x = 400 - 0.4p

Initial value of x: x_0 = 100

New value of x: x_1 = 120

The value of the price elasticity of demand is: