Answer :
Answer: 18.75%
Explanation:
Price elasticity of demand shows the change in quantity demanded as a result of a change in price.
If the price elasticity is negative, it means that quantity demanded and price move in opposing directions. If prices increase, quantity demanded decreases and vice versa.
Price elasticity of demand = Change in quantity demanded / Change in price
-0.8 = - 15% / x
-0.8x = -15%
x = -15% / -0.8
= 18.75%