If a product has elastic demand, why should a price decrease lead to an increase in total revenue?

Because a 1% decrease in price will lead to an increase in quantity demanded of larger than 1%

Because a 1% decrease in price will lead to an increase in quantity demanded of smaller than 1%

Because a 1% decrease in price will lead to a decrease in quantity demanded of larger than 1%

Because a 1% decrease in price will lead to a decrease in quantity demanded of smaller than 1%