If the price elasticity of demand for oranges is 2.0, a 3 percent rise in the price of oranges will lead to a:

Select one:

a.

1.5% rise in the quantity of oranges demanded.

b.

1.5% fall in the quantity of oranges demanded.

c.

6% rise in the quantity of oranges demanded.

d.

6% fall in the quantity of oranges demanded.