Research institutions operating in Antarctica rely heavily on low-Earth-orbit (LEO) satellite constellations for transmitting climate telemetry and scientific data. Due to the critical nature of this research and the lack of alternative communication infrastructure, satellite data consumption is highly price inelastic.
A market study by the Polar Communications Alliance estimated that the price elasticity of demand (PED) for LEO satellite bandwidth among Antarctic research stations is -0.32 in the short run and -0.75 in the long run.
Using this information, calculate the percentage change in price required to achieve a 5.6% reduction in the quantity demanded of satellite bandwidth in the short run.
