vIf a 15% increase in price for a good results in a 20% decrease in quantity demanded, the price elasticity of demand is Question 29 options: a) 0.75. b) 1.60. c) 1.33. d) 1.25If a 15% increase in price for a good results in a 20% decrease in quantity demanded, the price elasticity of demand is Question 29 options: a) 0.75. b) 1.60. c) 1.33. d) 1.25.