When the cross-price elasticity & PX = -3: a. demand rises by 3% with a 1% increase in the price of X. b. the quantity demanded decreases by 3% with a 1% increase in the price of X. the quantity demanded rises by 1% with a 3% increase in the price of X. demand decreases by 3% with a 1% increase in the price of X. C. d.