Suppose a fast-food chain determines that the price elasticity of demand for its hamburgers is 1.7, and the price of the hamburger is currently $4.00. What will be the effect on quantity demanded and total expenditure on this chain's hamburgers if the price is increased to $6.00? O Quantity demanded will fall by 17% and total expenditure will increase O Quantity demanded will fall by 1.7% and total expenditure will increase Quantity demanded will fall by 11.76% and total expenditure will decrease O Quantity demanded will fall by 68% and total expenditure will decrease Quantity demanded will fall by 34% and total expenditure will decrease