A hamburger stand raised the price of its hamburgers from $2.00 to $2.50. As a result, the sales of hamburgers fell from 200 per
day to 180 per day. Was the demand for its hamburger's elastic or inelastic? How can you tell?
1 answer:
The demand for hamburger can be said to be inelastic.
<h3>How to solve for the inelasticity</h3>
We have 180 - 200 / 200 ÷ 2 - 2.5/2
= - 2/5
= - 0.4
This shows us that the demand is inelastic.
<h3>What is inelastic demand?</h3>
This is when demand is said to be constant even when there are changes in the economic factors.
Read more om inelasticity here: brainly.com/question/2396092
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