An Amusement Park Finds That When It Charges $24 for an All-Day

question 9

Short Answer

An amusement park finds that when it charges $24 for an all-day pass, attendance is about 3700 per day. When it charges $27 , attendance is about 3400 per day.
A. Estimate the elasticity for the amusement park to two decimal places.
B. Is demand elastic or inelastic?

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