Survey a group of 10 people and find one good that all of them purchase each month. That common good might be pizza, Starbucks coffee, bottled water, gigabytes of data on their phone plan, or gasoline. Ask each person three questions about that good: (1) Roughly what is the current price you pay for the good? (2) How much of the good do you consume each month? and (3) How much of the good would you consume if the price of the good doubled? Enter the data you gather in a spreadsheet and estimate this group’s elasticity of demand for the good, using the midpoint formula. Does your result make sense to you? Briefly explain.