A digital streaming provider, StreamStream, plans to increase its monthly subscription price from £12.50 to £14.50 to fund original content production. Current projections suggest that this price increase will cause its subscriber base to decrease from 16.0 million to 14.2 million.
What is the price elasticity of demand (PED) for StreamStream subscriptions, rounded to two decimal places?
−1.42-1.42−1.42
−0.70-0.70−0.70
−0.80-0.80−0.80
+0.70+0.70+0.70
