A specialty coffee brand sells 8,000 bags of roasted coffee beans per month at a price of £12.00 per bag. The price elasticity of demand (PED) for this brand is -1.25. If the brand raises its price to £14.40 per bag, what will be the new monthly quantity demanded, assuming all other factors remain constant?
6,0006,0006,000
6,7206,7206,720
7,7607,7607,760
10,00010,00010,000
