Use economics terms explain in a lot detail Economic Reasoning ActivityMiguel owns a sweater store

Question

use economics terms: explain in a lot detail

Economic Reasoning Activity

Miguel owns a sweater store.

He notices that when the prices of a sweater decrease by 5%, the quantity demanded increases by 7%. If Miguel decreases his prices by another 5%, will this resu in another 7% increase (no more and no less) in quantity demanded? Use economic reasoning in your explanation.

Economics