You Are Part of a Local Community Theater Group

question 106

Multiple Choice

You are part of a local community theater group. It is the goal of the group to increase the amount of revenue earned through ticket sales. Mary says the obvious solution is to increase ticket prices. Is Mary correct?

• A) Mary is correct if the demand for tickets is price inelastic.
• B) Mary is incorrect if the demand for tickets is price inelastic.
• C) Mary is correct. The increase in ticket prices will always increase revenue.
• D) Mary is incorrect. The increase in ticket prices will never increase revenue.
• E) Mary is incorrect. The way to increase revenue is to decrease ticket prices.

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Definitions:

Calculations

The act of calculating the outcome of a mathematical or logical formula.

AutoSum Button

A functionality within spreadsheet software that automatically computes the total for a specified group of cells.

Formula

A predefined mathematical equation used in spreadsheets or other applications to perform calculations or data manipulation.

Function

In programming, a named section of a code that performs a specific task and can return a value. It can also refer to the mathematical notion where a relation associates inputs to outputs.