The Local Symphony Recently Raised Its Price for Tickets to Their

question 145

Multiple Choice

The local symphony recently raised its price for tickets to their summer concerts in the park.At the end of the summer season, the symphony was surprised to see that total revenue had actually decreased.The reason was that the elasticity of demand for tickets was

• A)unit elastic.
• B)inelastic.
• C)elastic.
• D)Not enough information is given.

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