4 (1 point) Suppose the price elasticity of demand is elastic, then: a 1 percent fall in the price will lead to a higher than 1 percent increase in quantity demanded. a 1 percent increase in the price will lead to a lower than 1 percent decrease in quantity demanded. a 1 percent fall in the price will lead to a lower than 1 percent increase in quantity demanded. O a 1 percent increase in the price will lead to a higher than 1 percent increase in quantity demanded. O a 1 percent fall in the price will lead to a 1 percent increase in quantity demanded