When mathew decided to buy a laptop, he searched the internet for information. however, he could not understand the technical language used in the websites he visited and decided to use product price as an indicator of quality. which of the following terms best describes mathew's decision-making process? rationalizing b. extended decision making c. satisficing d. habitual decision making

Anewspaper story on the effect of higher milk prices on the market for ice cream contained the following: "as a result [of the increase in milk prices], retail prices for ice cream are up 4 percent from last year. . and ice cream consumption is down 3 percent." source: john curran, "ice cream, they scream: milk fat costs drive up ice cream prices," associated press, july 23, 2001. based on the information given, what is the price elasticity of demand for ice cream?