The Price Elasticity of Supply of Hot Dog Buns Is

Multiple Choice

The price elasticity of supply of hot dog buns is estimated to be 1.5.Holding everything else constant, this means that a 10 percent decrease in the price of hot dog buns will cause the quantity of hot dog buns supplied to decrease by

A) 1.5 percent.
B) 15 percent.
C) approximately 25 percent.
D) approximately 5 percent.