"Mia Josefina Burguers" In this activity we will work with the elasticities that we observe in Unit 5, you must determine if the demand for this situation is one that is: elastic, inelastic or unitary. Remember the mathematical procedure, as well as the interpretation of the results must be. Trades delivered out of date have a penalty of 10%. What kind of demand do we have here? Explain your result Exercise of elasticity of the price of demand: 

Suppose that in the hamburger chain "Mia Josefina", the gourmet hamburger has an initial price of $15 per hamburger, and 500 hamburgers are sold per month. Then, due to a price increase, the price is set at $20 per hamburger and the amount demanded decreases to 400 hamburgers per month. 

Starting price: $15 per hamburger Initial quantity demanded: 500 hamburgers Final price: $20 per hamburger Final quantity demanded: 400 hamburgers.

Answer rating: 100% (QA)

To determine the elasticity of demand in this situation we can use the formula for price elasticity ... View the full answer