The price of burgers increase by 22% and the quantity of burgers demanded falls by 25% This indicates that demand for burgers is ____________?

Related Mcqs:

For an inferior good ?

A. The price elasticity of demand is negative: the income elasticity of demand is negative B. The price elasticity of demand is positive the income elasticity of demand is negative C. The price elasticity of demand is negative the income elasticity of demand is positive D. The price elasticity of demand is positive the income … For an inferior good ?Read More...

Positive cross elasticities suggest that goods are ____ and negative cross-elasticities that goods are ?

A. substitutes inferior B. normal, complements C. substitutes complements D. normal, inferior...

When excess demand occurs in an unregulated market, there is a tendency for ?

A. price to fall B. quantity supplied to decrease. C. price to rise D. quantity demanded to increase...

The price decrease from Rs 2,000 to Rs 1,800 Quantity demanded per year increases 5000 to 6000 units. Which of the following is correct ?

A. The price elasticity of demand is -2 B. The good is inferior C. Income elasticity is + 0.5 D. Income elasticity is + 2...

Increased level consumption ?

A. shift aggregate supply to the right B. shift aggregate supply to the left C. shift aggregate demand to the right D. shift aggregate demand to the left...