It Has Been Estimated That the Price Elasticity of Demand

question 114

Multiple Choice

It has been estimated that the price elasticity of demand for attending baseball games is 0.23. Other things held constant, a 10 percent increase in attendance can be explained by a:

• A) 43.48 percent fall in the price of a ticket.
• B) 43.48 percent rise in the price of a ticket.
• C) 23 percent fall in the price of a ticket.
• D) 23 percent rise in the price of a ticket.

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