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If the price elasticity of demand for a product is -0.2... A. Demand is price elastic...

If the price elasticity of demand for a product is -0.2...

A. Demand is price elastic

B. An increase in price will increase revenue

C. A decrease in price will reduce costs

D. A fall in price by 10% will reduce quantity demanded by 2%

What does a demand curve show?

A. What customers want to buy and all other things unchanged

B. The quantity demanded at different income levels

C. What consumers are willing and able to purchase at each and every price, and all other things unchanged

D. How much suppliers think they can sell at each price

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