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Phydeaux Phydeaux
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6 years ago
Santiago used to pay $4 for a slice of pizza. He bought 4 slices a week. When the price of a slice rose to $5, a 25 percent increase, Santiago stopped buying pizza altogether. Santiago's price elasticity of demand for pizza using the simple formula is
A) infinity.
B) 4.
C) 4.5.
D) 1.
E) zero.
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Microeconomics for Life: Smart Choices for You

Microeconomics for Life: Smart Choices for You


Edition: 2nd
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