Suppose price elasticity of demand is greater than 1. Which of the following example is correct? [a] If I increase price of oranges by 1%, sales of oranges increase by more than 1%. [b] If I increase price of oranges by 1%, sales of oranges decline byless than 1%. [c] If] increase price of oranges by 1%, sales of oranges increase by less than 1%. [d] If I increase price of oranges by 1%, sales of oranges decline by more than 1%. Consider the followingtable: Market size -0. 0021 41.67 [a] Market size impacts average winning percentage negatively and it is statistically sig; nicant. [b] Market size impacts average winning percentage negatively but it is statistically in- signicant. {c] Average winning percentage is positively correlated with market size and statistically signicant. [d] Market size impacts average winning percentage positively but it is statistically in signicant