"No matter the price,I will always buy five gallons of ice cream a week.I love ice cream!" This statement reflects a price elasticity of demand that is
A) perfectly elastic.
B) elastic.
C) unitary.
D) inelastic.
E) perfectly inelastic.

Question

Quizplus · Accepted Answer

The statement reflects a perfectly inelastic demand, as the quantity demanded (five gallons of ice cream a week) does not change regardless of the price. This means the consumer will buy the same amount no matter how much it costs, indicating no sensitivity to price changes.

"No Matter the Price,I Will Always Buy Five Gallons of Ice