Question: A price elasticity of demand for good X equal to -.85 implies

a. prices increases by $1.00 quantity demanded will decrease by .85.

b. price decreases by $0.85, quantity will increase by 1

c. price of $1.00 will result in sales increase of .85 units

d. price increases by 1%, quantity demanded will decrease by .85%

e. price increases by 1%, demand will increase by .85%