If the price elasticity of demand for a product is -.8, and the product currently sells for $100 per unit, how much will demand for the product change (expressed as a percentage) if the price is increased to $110 per unit?

Percentage change in quantity would decrease by 12.5%.

Step-by-step explanation:

Since we have given that

Price elasticity of demand = -0.8

Price of each unit = $100

After change, price of each unit becomes = $110

% change in quantity would be

As we know the relation between price, quantity and elasticity.

Hence, Percentage change in quantity would decrease by 12.5%.