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Epperson Company's management believes that every 3% decrease in the selling price of one of the company's products leads to an 8% increase in the
Epperson Company's management believes that every 3% decrease in the selling price of one of the company's products leads to an 8% increase in the product's total unit sales. The product's price elasticity of demand as defined in the text is closest to:
| A. | -2.82
| |
| B. | -2.98
| |
| C. | -2.53
| |
| D. | -2.03 |
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