Asked by Erin
If the price elasticity of demand is 2, this means that a __________ increase in price causes a __________ decrease in quantity demanded.
A. 15%; 100%
B. 15%; 10%
C. 20%; 40%
D. 30%; 20%
answer B 15%, 10%
A. 15%; 100%
B. 15%; 10%
C. 20%; 40%
D. 30%; 20%
answer B 15%, 10%