If Consumers Respond to a 10% Price Reduction by Buying

Multiple Choice

If consumers respond to a 10% price reduction by buying twice as much of a particular good,we would conclude that:

A) there was excess demand at the original price.
B) there was excess supply at the original price.
C) the absolute value of price elasticity at the original price was greater than one.
D) the absolute value of price elasticity at the original price was less than one.