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