When the Price of a Hot Dog Rises 10 Percent

question 394

Multiple Choice

When the price of a hot dog rises 10 percent, your expenditure on hot dogs increases. Hence, it is certain that

• A) hot dogs are a normal good for you.
• B) hot dogs are an inferior good for you.
• C) your demand for hot dogs is elastic.
• D) your demand for hot dogs is inelastic.

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