Since for most people,eating in restaurants is a luxury and eating at home is a necessity,the price elasticity of demand for food eaten at home is lower than the price elasticity of demand for eating in restaurants.

Price Elasticity of Demand

Measuring how sensitivity to price changes affects the amount of a good demanded.

Eating in Restaurants

Eating in restaurants involves consuming meals prepared and served in a dining establishment outside of the home environment.

Eating at Home

Refers to the preparation and consumption of meals within one's residence, often considered a cost-effective and healthier alternative to dining out.