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Before the State government approves large scale road infrastructure projects (such as toll roads or tunnels) they often try to estimate the demand curve in an attempt to predict the number of cars that will use the infrastructure at different prices Suppose before starting work on a new toll road, economic modelling suggested that at a price of $8 the average daily volume of cars using the foll road would be 49.000 Additionally at a pnce of $3, the average daily volume of cars using the toll road would be 62 500 it cannot be assumed that the demand curve is inear. Calculate the midpoint pnce elasticity of demand for the new toll road. Round your answer to the nearest two decimal places, giving a positive value for elasticity