f the elasticity of demand for the latest Taylor Swift album is 1.4, this means Select one: a. a 10 percent decrease in the price leads to a 140 percent increase in quantity demanded. b. a 1 percent increase in the price leads to a 14 percent decrease in quantity demanded. c. a 5 percent increase in the price leads to a 7 percent decrease in quantity demanded. d. few substitutes for the American Idol album exist