If a Consultant to a Major League Baseball Team Owner

question 43

Multiple Choice

If a consultant to a major league baseball team owner suggests that ticket prices be raised in order to increase revenue,the consultant must believe that the price elasticity of demand for baseball tickets is

• A)equal to infinity.
• B)less than 1.
• C)greater than 1.
• D)equal to 1.
• E)There is not enough information provided to answer this question.