Table 19-2 indicates that the short-run price elasticity of demand for tires is 0.9. If an increase

Question:

Table 19-2 indicates that the short-run price elasticity of demand for tires is 0.9. If an increase in the price of petroleum (used in producing tires) causes the market prices of tires to rise from $50 to $60, by what percentage would you expect the quantity of tires demanded to change?