Multiple Choice
It has been estimated that the price elasticity of demand for attending baseball games is 0.23. Other things held constant, a 10 percent increase in attendance can be explained by a:
A) 43.48 percent fall in the price of a ticket.
B) 43.48 percent rise in the price of a ticket.
C) 23 percent fall in the price of a ticket.
D) 23 percent rise in the price of a ticket.
Correct Answer:
Verified
Correct Answer:
Verified
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