Wiener-Bronner, D. (Nov. 9, 2022). Chocolate is having a moment. CNN Business. According to this article, consumers are not very sensitive to changes in the price of chocolate: its price elasticity of demand is about -0.4. Complete the following interpretation: A 2% increase in the ___________ will __________ the _________ by __________. Note: Answers are listed in the same order as the blanks.
a.
Price; Increase; Quantity of chocolate; 0.8%
b.
Price; Decrease; Quantity of chocolate; 0.8%
c.
Quantity of chocolate, Decrease; Price; 0.4%
d.
Quantity of chocolate; Increase; Price; 0.4%