Which of the following shifts the demand curve for hot dogs leftward?
A) an increase in the price of a hot dog bun
B) a decrease in the price of a hot dog bun
C) an increase in the price of a hot dog
D) an increase in the price of a hamburger
Question 2
The figure illustrates the demand for hamburgers. When the price is 1.00 a hamburger, the elasticity of demand is ________ and a 1 percent increase in the price will ________ the quantity of hamburgers demanded by ________ percent.
A) 1.00; decrease; 0.40
B) 0.40; decrease; 0.40
C) 2.50; increase; 2.50
D) 5.00; decrease; 5.00
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