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If the price of a soft drink doubles from $1 to $2 and you purchase the...

If the price of a soft drink doubles from $1 to $2 and you purchase the same amount, what is your price elasticity of demand and is it considered elastic or inelastic?

Group of answer choices

A. perfectly inelastic, 0

B. unit elastic, 1

C. elastic, greater than 1

D. inelastic, less than 1

E. perfectly elastic, infinite

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Answer #1

The answer is option A- perfectly inelastic, 0

If the price of a soft drink doubles from $1 to $2 and you purchase the same amount, what is your price elasticity of demand and is it considered elastic or inelastic- perfectly inelastic, 0

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