No Matter What the Price of Coffee Is in the Cafeteria

question 406

Multiple Choice

No matter what the price of coffee is in the cafeteria, Jack spends $20 a week on coffee. We can conclude that the absolute value of the price elasticity of demand for coffee for Jack is

• A) greater than 1.
• B) equal to 1.
• C) less than 1.
• D) equal to 0.

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