Which of the following statements is false:

a)	Estimates of price elasticity guide pricing decisions.

b)	Consumption of most healthcare products does not increase with income.

c)	Inelastic demand does not mean that consumption will be unaffected by price changes.

d)	Elasticities are ratios of percentage changes.

e)	The cross price elasticity of demand describes how the quantity demanded changes when the price of a related product changes.