price elasiticy of demand is determined by the percentage change in quantity demanded divided by the percentage change in the price of a good. Therefore, to find the elasticity of demand, you must find the percentage change of the quantity demand, 97 million kilos to 76 million kilos, which is a fall of 21.6% and the percentage change of price, £7.20 to £8.48, which is an increase of 17.8%. With these two figures we can now calculate the price elasticity of demand by putting them into the equation. Thereby finding the P.E.D to be -21.6/17.8 = -1.2