Calculate the predicted percentage change in tickets sold., Ask an Expert

Economics

Presently , a typical fan pays an average ticket price of $5. The price elasticity of demand for tickets is -0.6. Management is thinking of raising the average ticket price to $5.50. Compute the predicted percentage change in tickets sold. Would you expect ticket revenue to rise or fall?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9273529

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