Question

2.
The price elasticity of demand for a particular brand of chocolate is
estimated to be -2. If quantity demanded has increased by 10 percent,
price must have
(a) fallen by 5 percent
(b) risen by 5 percent
(c) fallen by 10 percent (d) risen by 10 percent
Price elasticity at a given price is not affected by​

Answer 1

Answer:

C is correct

Explanation:

because proportional change in price due to proportional change in QD

Answer 2

Answer:

a fallen by 5 percent is the answer