Due to improved technology Intel can produce microchips cheaper than before. Which of the following statements is true?Demand will rise the most if demand is elastic.The quantity demanded will rise...

Due to improved technology Intel can produce microchips cheaper than before. Which of the following statements is true?Demand will rise the most if demand is elastic.The quantity demanded will rise the most is supply is elastic.Price will have to drop the most if demand is elastic.Price will have to drop the most if quantity demanded is elastic