question archive When the price of tacos increases by 10% your quantity demanded of tacos decreases by 4%
When the price of tacos increases by 10% your quantity demanded of tacos decreases by 4%
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When the price of tacos increases by 10% your quantity demanded of tacos decreases by 4%. Based on this information, your price elasticity of demand for tacos would be _____ and would be characterized as _____.
a. 2.5, elastic
b. 2.5, inelastic
c. 0.4, elastic
d. 0.4, inelastic
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