Solved: Lets say that the price decreased from 200 to 160 20, Business Economics

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Lets say that the price decreased from 200 to 160 20

Price elasticity of demand question:

Lets say that the price decreased from $200 to $160 (20% decrease) on Beats by Dre headphones. This obviously would cause an increase of quantity demanded and I am to estimate it off of the determinants of demand (no data). Determinants of demand that I have included which is income, substitutes, advertising, price, consumer preferences.

What would you put as the percentage increase in quantity demanded and why?
What is the quantified elasticity number and how can you justify that number?

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Business Economics: Lets say that the price decreased from 200 to 160 20

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Business Economics: Lets say that the price decreased from 200 to 160 20

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