Tariq purchases 4 pizzas per month when the price is $16 and 3 per month when the

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Question:

Tariq purchases 4 pizzas per month when the price is $16 and 3 per month when the price is $22. Calculate Tariq's price elasticity for pizza at the price of $16. Is his demand for pizza elastic or inelastic? How much money does Tariq spend on pizza each month before and after the price increase? Does this change correspond with the predicted effect due to the elasticity of demand?