Question

6. The price of hot - dogs increase by 22%
the quantity demanded falls by 25%
s indicates that demand for hot dogs is:
Elastic
D) Inelastic
(c) Unitary elastic
(d) Perfectly elastic
9:06 am​

Answer 1

Answer:

Price of hot dogs increase by 22% and demand falls by 25% hence, demand for hot dogs is elastic.

Explanation:

Price elasticity of demand

=−

%ΔP

%ΔQ

=

22%

25%

=1.13

Since price E>1, therefore demand for goods is elastic.

Answer 2

Answer:

The answer is

Explanation:

(D) inelastic