Multiple Choice
The Country Music Hall of Fame is considering increasing admission prices to increase gross revenue.If the price of admission rises from $20 to $30,and attendance drops from 3,000 to 1,500,what is the approximate elasticity of demand for admission tickets?
A) 1.
B) 100.
C) -1%.
D) -1.
Correct Answer:
Verified
Correct Answer:
Verified
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