If the Demand for Bananas Has a High Price Elasticity

Multiple Choice

If the demand for bananas has a high price elasticity, then a 5 percent decrease in the price of bananas will result in

A) a more than 5 percent increase in the quantity demanded.
B) a less than 5 percent increase in the quantity demanded.
C) no change in the quantity demanded.
D) a more than 5 percent decrease in the quantity demanded.
E) a less than 5 percent decrease in the quantity demanded.