Multiple Choice
The following question are based on the following information regarding the gross monthly receipts of a miniature golf course in a resort community at the shore.
-When the price per game is decreased from $4.50 to $4.00
A) the number of games played remains the same.
B) demand becomes price elastic.
C) the number of games played must have fallen, but there is not enough information to tell by how much.
D) the percentage increase in the number of games is equal to the percentage decrease in price.
E) the profits of the golf course rise significantly.
Correct Answer:
Verified
Correct Answer:
Verified
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