The Table Below Shows the Demand Schedule for Museum Admissions

question 36

Multiple Choice

The table below shows the demand schedule for museum admissions in a small city. $\begin{array}{|c|c|}\hline \begin{array}{c}\text { Price } \\\text { (per visit } \\\text { per person) }\\\end{array} & \begin{array}{c}\text { QuantityDemanded } \\\text { (thousands of }\\\text { person-visits per year) }\end{array} \\\hline \$ 10 & 2 \\\hline \$ 8 & 4 \\\hline \$ 6 & 6 \\\hline \$ 4 & 8 \\\hline \$ 2 & 10 \\\hline\end{array}$ TABLE 4- 1
-Refer to Table 4- 1. The elasticity of demand for museum admissions is

• A) inelastic at all points on the demand curve.
• B) greater at lower prices than at higher prices.
• C) elastic at all points on the demand curve.
• D) constant at all points on the demand curve.
• E) greater at higher prices than at lower prices.

---

Definitions:

Failure Rate

The frequency at which an engineered system or component fails, expressed in failures per unit of time. It is often used to analyze the reliability of products.

New Products

Items that a company offers to the market for the first time, ranging from entirely new inventions to updates or modifications of existing products.

Product Launch

A product launch refers to the process of introducing a new product into the market, involving a series of promotional activities designed to generate awareness and interest among potential customers.

Political Office

A position of authority within a government organization that is acquired through an electoral process or appointment.