Multiple Choice
The owner of a movie theater found that when he raised ticket prices 10%, he sold 20% more tickets. What kind of elasticity does this response indicate?
A) demand for the ticket is elastic.
B) demand for the tickets is inelastic.
C) demand for the tickets is unit elastic.
D) demand for the tickets has no elasticity.
Correct Answer:
Verified
Correct Answer:
Verified
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