Question

if the price elasticity of demand for wine is -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 ​

Answer 1

Answer:

c) 19.6% increase

Explanation:

c) 19.6% increase