32. The price elasticity of demand for a certain agricultural product is constant (over the relevant range of prices) and equal to -2.50. The supply elasticity for this product is constant and equal to 4. Originally the equilibrium price of this good was $50 per unit. Then it was discovered that consumption of this product was unhealthy. The quantity that would be demanded at any price fell by 52%. The percent change in the long-run equilibrium consumption of this good was:
a. -52%.
b. -32%.
c. -8%.
d. -36%.
e. There is not enough information to determine the answer.

ANS: B