Canaanville Terrace Water Co. pumps Magic Spring Sparking Water from an underground spring. This water is packaged in 1.5 liter bottles for sale to local residents. At a price of $1.50 per bottle, 1000 bottles can be sold per day. When the price is increased to $2.00 per bottle, only 900 bottles can be sold per day.Using the Midpoint formula, calculate the price elasticity of demand.