If Demand Price Elasticity Measures 2, This Implies That Consumers

Multiple Choice

If demand price elasticity measures 2, this implies that consumers would

A) buy twice as much of the product if the price drops 10 percent.
B) require a 2 percent drop in price to increase their purchases by 1 percent.
C) buy 2 percent more of the product in response to a 1 percent drop in price.
D) require at least a $2 increase in price before showing any response to the price increase.
E) buy twice as much of the product if the price drops 1 percent.