Final answer:
The price elasticity of demand is a measurement of how responsive the quantity demanded of a product is to a change in its price. Calculations for elasticity require percentage changes in price and quantity demanded, but as the specific data is not available, a definitive answer on the elasticity of combo meals cannot be provided.
Step-by-step explanation:
The question asks about determining the price elasticity of demand for combo meals based on given data and analysis. The concept of price elasticity measures the responsiveness of the quantity demanded of a product when its price changes. To calculate the price elasticity of demand we use the formula: Price Elasticity of Demand = % Change in Quantity Demanded / % Change in Price. The elasticity is said to be elastic if the absolute value of the price elasticity is greater than one, inelastic if it's less than one, and unitary if it's exactly equal to one.
Without the specific data from Table 5.5, we can only summarize that if numerous customers cease purchasing combo meals due to a small price increase, the meals would show high price elasticity (option A). Conversely, if sales barely decrease with a price rise, they exhibit low price elasticity (option B). If the percentage change in the quantity demanded exactly matches the percentage change in price, they reflect unitary price elasticity (option C). Lastly, if the quantity demanded doesn't change at all with a price change, it means no price elasticity exists (option D).
Since the actual data is not provided, the correct option cannot be determined without further information. The analysis would involve calculating the percentage change in both price and quantity demanded between identified points on the demand curve and then using those values to calculate price elasticity.