The Demand for Tickets Is Given by D(p)= 200,000 -

question 12

Multiple Choice

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

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Definitions:

Establishing a Population

Involves defining and identifying the total group of individuals that share a certain characteristic or set of characteristics, for the purpose of study or observation.

Independent Variable

A variable that is the presumed cause of a particular result (see dependent variable).

Dependent Variable

The variable that is a presumed effect.

Research Question

A specific query that guides scientific or scholarly investigation, aiming to answerable inquiries based on empirical evidence and reasoned argument.