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Suppose the Chicago Bears Football Team Raises Ticket Prices by 13

Question 136

Multiple Choice

Suppose the Chicago Bears football team raises ticket prices by 13 percent and as a result the quantity of tickets demanded decreases by 21 percent.This response means that the demand for Bears tickets is


A) inelastic.
B) elastic.
C) unit elastic.
D) perfectly inelastic.
E) perfectly elastic.

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