In Problem 9, the Demand for Tickets Is Given by D(p)

question 11

Multiple Choice

In Problem 9, the demand for tickets is given by D(p) = 200,000 - 10,000p, where p is the price of tickets. If the price of tickets is $8, then the price elasticity of demand for tickets is

• A) -1.33.
• B) -2.
• C) -0.33.
• D) -1.
• E) -0.67.

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