The big bad wolf loves eating little pigs for breakfast, lunch, dinner, supper, midnight snacks and he does know all about second breakfast. He tends to consume a lot of little pigs in a week. (He is probably not Jewish) when a little pig cost $11.28 per big, he devours 23 piggies per week. If little pigs are on special, at $7.90 per pig, he devours 32 pifies per week
a) Calculate the price elasticity if demand involved here (correct to 2 decimal places)
b) is the price elasticity of demand elastic or in elastic?