The price elasticity of demand for a popular sporting event is 2. If the price of a ticket to this event increases by 10 percent, the quantity of tickets demanded will

decrease by 20%

Explanation:

The price elasticity of demand simply measures how the quantity demanded for a particular product will respomd when the price of the product changes.

With regards to the question,

2 = x/10

x = 2 × 10

x = 20%

There'll be a decrease in demand by 20%. This is because according to the law of demand, an increase in the price of a good will bring about a reduction in demand for that good because consumers will buy less of that good.