If the price elasticity of demand for a good is 0.3, then a 10 percent increase in price would result in a

Select one:

A.

0.03 percent decrease in the quantity demanded.

B.

10 percent decrease in the quantity demanded.

C.

30 percent decrease in the quantity demanded.

D.

0.3 percent decrease in the quantity demanded.

E.

3.0 percent decrease in the quantity demanded.