O D. Steepness or slope of a demand curve QUESTION 2 If the price elasticity of demand for a product is equal to 0.5, then a 10 percent decrease in price will increase quantity demanded by: O A. 20 percent O B. 5 percent O C. 0.05 percent O D. 0.5 percent QUESTION 3 the price is $7 A huge increase in resource costs forces Block's