1. Suppose the price elasticity of demand for cars is 0.6. It means

A) Every 1 percent increase in price leads to a 0.6 percent decrease in the number (quantity) of cars demanded

B) Every 1 percent increase in price leads to a 60 percent decrease in the number (quantity) of cars demanded.

C) Every 1 percent decrease in price leads to a 0.6 percent increase in the number (quantity) of cars supplied.

D)Every 1 percent increase in price leads to a 0.6 percent increase in the number (quantity) of cars demanded.