The price of burger increases by 22% and the quantity of burgers demanded falls by 25%. This indicates that demand for burger is :
A. elastic
B. inelastic
C. unitary elastic
D. perfectly elastic
Answer:A
The price of burger increases by 22% and the quantity of burgers demanded falls by 25%. This indicates that demand for burger is :
A. elastic B. inelastic C. unitary elastic D. perfectly elastic