You Are in Charge of the Local City-Owned Aquatic Center

question 331

Multiple Choice

You are in charge of the local city-owned aquatic center. You need to increase the revenue generated by the aquatic center to meet expenses. The mayor advises you to increase the price of a day pass. The city manager recommends reducing the price of a day pass. You realize that

• A) the mayor thinks demand is elastic, and the city manager thinks demand is inelastic.
• B) both the mayor and the city manager think that demand is elastic.
• C) both the mayor and the city manager think that demand is inelastic.
• D) the mayor thinks demand is inelastic, and the city manager thinks demand is elastid.

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Definitions:

Inspected

Examination or review of a condition or situation, often for compliance or quality control.

Delivery

The act of transferring possession of a good or document from one party to another, fulfilling a contractual obligation.

Document of Title

A legal document that provides evidence of ownership of property or goods.

Negotiable Document

A written instrument that promises payment to the holder and is freely transferable.