Suzette Crepe orders pancakes at her local IHOP every morning. When pancakes cost $1.20 per stack, she buys 6 stacks. When the price/stack is $1.80, she buys 5.
1. Compute her arc PED. ___________________ .
2. There are 3 pancakes in a stack. Recompute Suzette’s arc PED when her quantity consumed is measured in pancakes rather than stacks. ___________________
3. Microwaveable pancakes become available at Suzette’s grocery store. Will her demand for IHOP pancakes become more or less elastic? Explain.