Ask Me Help Desk - A price elasticity of demand for Good X equal to -.85 implies

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A price elasticity of demand for Good X equal to -.85 implies

A. if price increases by $1.00, quantity demanded will decrease by .85.

B. if price decreases by $0.85, quantity demanded will increase by 1.

C. a price of $1.00 will result in sales increase of .85 units.

D. if price increases by 1%, quantity demanded will decrease by .85%.

E. if price increases by 1%, demand will decrease by .85%.

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	A.	if price increases by $1.00, quantity demanded will decrease by .85.
	B.	if price decreases by $0.85, quantity demanded will increase by 1.
	C.	a price of $1.00 will result in sales increase of .85 units.
	D.	if price increases by 1%, quantity demanded will decrease by .85%.
	E.	if price increases by 1%, demand will decrease by .85%.