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Florida State University Has Just Lowered the Price of Its

Question 524

Multiple Choice

Florida State University has just lowered the price of its season football tickets from $350.00 to $300.00. As a result, there was an increase in the number of season tickets purchased from 43,000 to 47,000. The price elasticity of demand for season tickets equals


A) 1.71.
B) 1.58.
C) 0.71.
D) 0.58.

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