Multiple Choice
The price elasticity of demand for tickets to local baseball games is estimated to be equal to 0.89. In order to boost ticket revenues, an economist would advise:
A) increasing the price of game tickets because demand is inelastic.
B) not changing the price of game tickets because demand is unit elastic.
C) increasing the price of game tickets because demand is elastic.
D) decreasing the price of game tickets because demand is elastic.
Correct Answer:
Verified
Correct Answer:
Verified
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