Consider that the price elasticity of demand (E), percentage change in price (P), and percentage change in demand (D), are related as,
[tex]E=\frac{D}{P}[/tex]According to the given problem,
[tex]\begin{gathered} D=5 \\ P=6 \end{gathered}[/tex]Substitute the values,
[tex]\begin{gathered} E=\frac{5}{6} \\ E\approx0.833 \end{gathered}[/tex]Thus, the required price elasticity of demand is 0.83.
