Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch

Exercise 30

In each of the following instances, determine whether quantity demanded will increase or decrease, and by how much.
a. If price elasticity of demand is -1.3 and price increases by 2 percent, quantity demanded will _________ by_______ percent.
b. If price elasticity of demand is -0.3 and price decreases by 2 percent, quantity demanded will ___________ by______ percent.