It is valentine's day and jason is desperately looking all over town for a dozen roses to give to judy. most likely, jason's price elasticity of demand is:

a. infinitely large.
b. negative.
c. equal to one.
d. greater than one.
e. less than one.

e.less than one

Explanation:

Price elasticity of demand refers to percentage change in quantity demanded with respect to percent change in price. It is given by the following formula:

Price elasticity of demand = ΔQ/ΔP × P/Q

where ΔQ = change in quantity

          ΔP= change in price

            P= Base year price

            Q= Base year quantity

In the current case, Jason will not be much bothered by a rise in price of roses owing to the occasion wherein roses are a necessity to him. Hence his demand would be inelastic.

An inelastic demand would lie between 0 and 1. Thus, the correct option is e.less than one

hello the answer is d