The Demand for Tickets to a Rock Concert Is Given

question 39

Multiple Choice

The demand for tickets to a rock concert is given by D(p) = 200,000 - 10,000p, where p is the price of tickets.If the price of tickets is $17, then the price elasticity of demand for tickets is

• A)-11.33.
• B)-8.50.
• C)-17.
• D)-2.83.
• E)-5.67.

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Definitions:

Social Inequality

A situation where resources, opportunities, and rights are distributed unevenly across different groups in society based on characteristics like class, race, gender, etc.

Gender

A social construct that encompasses a range of behaviors, identities, and roles associated with being male, female, or non-binary.

Biological Basis

The underlying genetic, neurological, or physiological factors that influence an individual's behavior, traits, or conditions.

Sexual Orientation

The inherent or enduring emotional, romantic, or sexual attraction a person feels toward others, including heterosexuality, homosexuality, and bisexuality.