If the Price Elasticity of Demand for Cheer Detergent Is

Multiple Choice

If the price elasticity of demand for Cheer detergent is 3.0,then a

A) 12 percent drop in price leads to a 36 percent rise in the quantity demanded
B) 12 percent drop in price leads to a 4 percent rise in the quantity demanded
C) $1,000 drop in price leads to a 3,000-unit rise in the quantity demanded
D) $1,000 drop in price leads to a 333-unit rise in the quantity demanded
E) 12 percent rise in price leads to a 36 percent rise in the quantity demanded