Question

7. If the price elasticity of demand for wine is estimated to be -6, then a 20% increase in price of wine
will lead to ........ in quantity demanded of wine at that price
(a) 12% increase (b) 12% decrease (c) 19.6% increase (d) 20.6% decrease
can anyone please solve this!!​

Answer 1

I hope your answer is option c........