The price of hot dogs increase by 22% and the quantity demanded falls by 25 % this indicates that demand for hot dogs is : a)Elastic b)Inelastic c)Unitary elastic d)perfectly elastic
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2
Answer:
a)Elastic
Explanation:
Answered by
1
answer: elastic
Explanation:
Demand for a good is elastic when the percentage change in quantity demanded is more than the percentage change in price. Price of hot dogs increase by 22% and demand falls by 25% hence, demand for hot dogs is elastic
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