Question

Each week Pablo buys exactly 14 bottles of Bai Infusion drink regardless of its price. Pablo's own price elasticity of demand for the drink is Group of answer choices 0 -1 less than -1 more than -1

Answer 1

Based on the purchase, Pablo's own price elasticity of demand for the drink is: A. zero (0).

What is a price elasticity of demand?

A price elasticity of demand can be defined as a terminology that is used to measure the responsiveness of the quantity of a product demanded by a consumer with respect to a specific change in price of the product, all things being equal (ceteris paribus).

In this scenario, Pablo's own price elasticity of demand for the drink purchased is zero (0) because the quantity of drinks he buys is constant or remained the same i.e there is no change in the quantity demanded.

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