Florida State University Has Just Lowered the Price of Its

question 524

Multiple Choice

Florida State University has just lowered the price of its season football tickets from $350.00 to $300.00. As a result, there was an increase in the number of season tickets purchased from 43,000 to 47,000. The price elasticity of demand for season tickets equals

• A) 1.71.
• B) 1.58.
• C) 0.71.
• D) 0.58.

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Definitions:

Cyberbullying

The use of electronic media (web pages, social networking sites, e-mail, Twitter, cell phones) to tease, harass, threaten, or humiliate someone.

Identity Theft

The fraudulent acquisition and use of a person's private identifying information, often for financial gain.

Cybercrime

Crimes committed via the Internet, including identity theft, embezzlement, fraud, sexual predation, and financial scams.

Bank Account

A financial arrangement made with a banking institution that allows for the deposit and withdrawal of money, and is used for managing personal or business finances.