Multiply the quantity by 0.2
Another Answer: 2% is the equivalent of 0.02 and so multiply the quantity by 0.02
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Multiplying
compares part of a quantity to the hole quantity using a percent
find 10% * it by 2 find 1 percent * it by 2 add together
2/10=0.2 <1 the good is price inelastic
The quantity is decreasing.