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Answer to Question #296548 in Microeconomics for jay
Question #296548
Carl said, “No matter the price, I will always buy five gallons of ice cream a week. I love ice cream!”. What can we say about Carl’s price elasticity of demand for ice-cream?
Group of answer choices
Carl’s demand for ice-cream is perfectly elastic.
Carl’s demand for ice-cream is perfectly inelastic.
The price elasticity of Carl’s demand for ice-cream is equal to 1.
The price elasticity of Carl’s demand for ice-cream is greater than 1.
Carl’s demand for ice-cream is unit elastic.
Expert's answer
Carl’s demand for ice-cream is perfectly inelastic.
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#340153 on Dec 2023
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