14 6.25 pts A foreign-based liquor company has estimated the following equation for its demand in South Florida: Demand = 3.6 - 2.8 Price + 6.3 Other Variables Where demand is in millions of bottles and price is in the US dollars. Over the last three years, on the average the company's demand and price in South Florida have been, respectively, 22 million bottles and $12.60. The price elasticity of this company's liquor in South Florida is: O -1.6 O -4.9 O None of the answers in this question are correct. O - 2.8 O -5.4