Correct Answer: -1

Solution : The answer is ( -1 ).

To determine the point elasticity of demand , we can use the following formula:

Point Elasticity of Demand (PED) = (%Change in Quantity Demanded)/(%Change in Price) Percentage Change in Quantity Demanded:

=  [(New Quantity Demanded - Old Quantity Demanded)/Old Quantity Demanded] * 100

= [(750 - 600) / 600] * 100

= (150 / 600) * 100

= 25%

Percentage Change in Price:

= [(New Price - Old Price) / Old Price] * 100

= [(60 - 80) / 80] * 100

= (-20 / 80) * 100

= -25%;

Now, plug these values into the formula for PED: PED = (25%)/(-25%)

PED = -1;

So, the point elasticity of demand for this article is -1.