问题
单项选择题
If the price elasticity of demand is-1.5 and you increase the price of the product 2 percent, the quantity demanded will (closest to):（）
A. decrease 0.75%
B. decrease 1.5%
C. decrease 3%
答案
参考答案：C
解析：
If the price elasticity of demand is -1.5, and you increase the price of the product 2% , the quantity demanded will decrease approximately 3%. When the price elasticity is negative, it means that price and demand move in opposite directions. Given a price decrease, demand will increase and vice versa. The absolute value, 1.5, indicates that demand will move one-and-a-half times as much as price.