As the price for a particular product changes, the quantity of the product demanded changes according to the following schedule:

Total quantity demanded Price per unit 100 50 150 45 200 40 225 35 230 30 232 25 U

s i

n g

t h

e a

r c

m e

t h

o d

, t h

e p

r i

c e

e l

a s

t i

c i

t y

o f

d e

m a

n d

f o

r t

h i

s p

r o

d u

c t

w h

e n

t h

e p

r i

c e

d e

c r

e a

s e

s f

r o

m 40 to $35 is

a. 0.20

b. 0.88

c. 10.00

d. 5.00