Fill in the blanks:

a. The price elasticity of demand for a firm's product is equal to -1.5 over the range of prices being considered by the firm's manager. If the manager decreases the price of the product by 6 percent, the manager predicts the quantity demanded will ________(increase, decrease) by _______percent.

b. The price elasticity of demand for an industry's demand curve is equal to -1.5 for the range of prices over which supply increases. If total industry output is expected to increase by 30 percent as a result of the supply increase, managers in this industry should expect the market price of the good to ________(increase, decrease) by ________percent.