Every Month Olivier Buys Exactly 6 Take- Out Pizzas Even

question 33

Multiple Choice

Every month Olivier buys exactly 6 take- out pizzas even though the price may fluctuate significantly.Apparently,Olivier's price elasticity of demand for take- out pizza is

• A)0.
• B)1.
• C)- 1.
• D)infinity.
• E)6.

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Definitions:

Elastic than Demand

Refers to a situation where the quantity demanded of a good is more sensitive to changes in price, indicating a high price elasticity of demand.

Cereal

A food product made from processed grains, often eaten as breakfast and typically served cold with milk.

Price Elasticity of Demand

A measure of how responsive the quantity demanded of a good is to a change in its price, with higher elasticity indicating greater sensitivity.

Demand

The amount of a product or service that buyers are prepared and capable of buying at different price levels over a specified time frame.