Economists at Hy-Vee's corporate headquarters estimate that the price elasticity of demand of Gatorade is -1.5. If Hy-Vee decreases the price of Gatorade by 3% we would expect there to be a 4 1.5% decrease in the quantity demand of Gatorade. 4.5% increase in the quantity demanded of Gatorade. 3.0% increase in the quantity demanded of Gatorade. 0.5% increase in the quantity demanded of Gatorae.