Answer:
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
