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"No matter the price, I will always buy five gallons of ice cream a week. I love ice cream!" This statement reflects a price elasticity of demand that is ________________.

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Final answer:

The customer's unchanging purchase quantity regardless of price shows an inelastic demand, meaning their purchase habits are not responsive to price changes.

Step-by-step explanation:

The statement "No matter the price, I will always buy five gallons of ice cream a week. I love ice cream!" reflects a price elasticity of demand that is inelastic. This is because the individual's quantity demanded does not change in response to price changes - they will buy the same amount regardless of the price. Inelastic demand occurs when the elasticity of demand is less than one, indicating that a 1 percent increase in price leads to less than a 1 percent change in the quantity of ice cream purchased, showing a low responsiveness to price changes.

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