The local bakery calculates the price elasticity of demand for its cinnamon rolls to be -1.25. This tells them that demand is ___________ and price is _____________ to the buyer.
a) inelastic; less important than the quantity
b) elastic; more important than the quantity
c) unitary elastic; on the same level as quantity
d) perfectly inelastic; everything
e) perfectly inelastic; meaningless
