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Gasoline prices in Toronto went up by 10 percent from $1.00/litre to $1.10/litre. Suppose the price elasticity of gasoline is 0.8. This implies that the

Gasoline prices in Toronto went up by 10 percent from $1.00/litre to $1.10/litre. Suppose the price elasticity of gasoline is 0.8. This implies that the quantity of gasoline demanded must have decreased by Question 32Select one: A. 12.5%. B. 0.8%. C. 1.25%. D. 80%. E. 8%

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