When the Price of a Car Is $25,000,car Sales Are

Multiple Choice

When the price of a car is $25,000,car sales are 10,000 per month.When the price of a car increases to $29,000,car sales fall to 8,000 per month.Therefore,using initial value,a 1% increase in the price of the car will result in a ________ in the quantity demanded of cars.

A) 1.67% decrease
B) 1.25% decrease
C) 0.8% decrease
D) 0.8% increase