I calculated out 10% (Option A) but some sources say that it is decreases by 2.5 percent.

In PioneerVille, the price elasticity of demand for bus rides is 0.5.

When the price of a bus ticket rises by 5percent, _______.

A.

the demand for bus rides increases by 10 percent

B.

the quantity of bus rides demanded increases by 2.5 percent

C.

the quantity of bus rides demanded decreases by 2.5 percent

D.

the demand for bus rides decreases by 2.5 percent