Assume that as the price of wheat falls from $10 to $8, the quantity demanded of wheat increases from 100 bushels to 150 bushels. This implies the price elasticity of demand for wheat is 0.5. 4pts Other things remaining unchanged, the longer the time period under consideration, the greater will be the price elasticity of demand. 0 True 0 False ' - w D Question 9 If a 10 percent increase in the price of tomatoes leads to a 20 percent decrease in quantity demanded, then the price elasticity of demand for tomatoes, I, equals -2