If demand price elasticity measures 2, this implies that consumers would Group of answer choices buy twice as much of the product if the price drops 10 percent. require a 2 percent drop in price to increase their purchases by 1 percent. buy 2 percent more of the product in response to a 1 percent drop in price. require at least a $2 increase in price before showing any response to the price increase. buy twice as much of the product if the price drops 1 percent.