Two drivers-Antonio and Caroline-each drive up to a gas station. Before looking at the price, each places an order. Antonio says, "I'd like 10 gallons of gas." Caroline says, "I'd like $10 worth of gas." Which of the following statements is correct? Check all that apply. a. Caroline's price elasticity of demand is 1. b. Antonio's price elasticity of demand is between 0 and 1. c. Caroline's price elasticity of demand is 0.
d. Antonio's price elasticity of demand is 0.

Q&A Education