Suppose the Price of Take-Out Pizza Has Been Stable for Many

question 16

Multiple Choice

Suppose the price of take-out pizza has been stable for many months at exactly $12.50 per pizza - and Olivier buys 6 pizzas per month at this price.When the price rises to $12.55 per pizza,Olivier's quantity demanded drops to zero.Apparently,Olivier's price elasticity of demand for take-out pizza is

• A)-1.
• B)0.
• C)100
• D)6.
• E)higher than 10 000.

---

Definitions:

Repetitive Experiences

Encounters or activities that occur frequently in a similar manner, potentially reinforcing or altering behaviors and attitudes.

High Sensation Seekers

Individuals characterized by their desire for novel, complex, and intense experiences and the willingness to take physical and social risks for such experiences.

Initial Excitement

The initial phase of heightened emotional response or enthusiasm toward a new situation, project, or relationship.

Case Study

An in-depth investigation of a single individual, group, event, or community, often used in psychology to explore complex issues in a real-life context.