According to Table 2.1,which presents hypothetical data on price elasticity of demand,which of the following would be true if the price of all four goods were to increase by 3%? 
A) The quantity of car repairs demanded would decrease by a smaller percentage than would the quantity of bread demanded.
B) The quantity of car repairs demanded would increase by a smaller percentage than would the quantity of lamb demanded.
C) The quantity of electricity demanded would decrease by a smaller percentage than would the quantity of lamb demanded.
D) The quantity of electricity demanded would increase by a smaller percentage than would the quantity of bread demanded.
Correct Answer:
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