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.
Correct Answer:
Verified
Correct Answer:
Verified
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