if the elasticity of demand coefficient for a good is 4(in absolute term), we know: a: that for every 1%increase in quantity, there will be a 4% increase in price b: that for every 1% increase in quantity, there will be a 4% decrease in price c: that for every 4% increase in quantity, there will be a 4% increase in price d: that for every 12% increase in quantity, there will be a 3% decrease in price