Bob's Burgers charged $1.50 for a quarter-pound hamburger with all the Fixin's and sold 7,500 of them. In 2002, although Bob raised the price to $1.75, sales of quarter-pound burgers rose to 8,200. Explain why this does not represent a violation of the law of demand.

Answer rating: 100% (QA)

Explanation Between 2002 and 2007 the increase in price has c... View the full answer