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An economist recently estimated that for every 1% increase in the price of french fries at fast-food restaurants, 0.44% fewer french fries are sold. This indicates that the demand for fast-food french fries is _______.

Respuesta :

Answer:

correct fill up is  Inelastic  

Explanation:

given data

increase in  price of french fries = 1%

fewer french fries sold = 0.44%

solution

we know that when change in  percentage  of the quantity demanded in smaller than that of price

so that there the price of elasticity of demand for the good is relatively inelastic

and here increase in  price of french fries is 1%

as that demand for fast-food french fries is Inelastic  

so correct answer is  Inelastic  

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