uppose all the demand shifters are in their initial values (average household income is $50,000 per year, airfare from JFK to LHR is $500 round-trip, and the average room rate in Paris is $150 per night). If Air France were currently charging $1,000 roundtrip, its price elasticity of demand would be approximately ____. (Hint: What happens if Air France raises its price by 1%?)

I can't get the answer and i've tried for the past hour and half!

The possible answers are:

A. 0.33

B. 1.5

C. 3

D. 0.77

When i do it, i get around .81, which is none of the choices. Can anyone atleast get me started (I know my math is right, so i must be setting it up wrong.)