Multiple Choice
A Broadway play company can only charge one price for tickets to a given performance of its play. The company manager notices that they earn greater total revenue when they charge a higher ticket price and its theater is three-quarters full than when they charge a lower ticket price and the theater is completely full.It follows that demand for this play is
A) elastic.
B) unit elastic.
C) perfectly inelastic.
D) perfectly elastic.
E) inelastic.
Correct Answer:
Verified
Correct Answer:
Verified
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