Suppose the absolute value of the price elasticity of demand for basketball game tickets on your campus is greater than 1. Increasing ticket prices will increase the total revenue from ticket sales.True or False.

Question

jaleelat353 jaleelat353

03-12-2019
Business

contestada

Suppose the absolute value of the price elasticity of demand for basketball game tickets on your campus is greater than 1. Increasing ticket prices will increase the total revenue from ticket sales.True or False.

Respuesta :

Otras preguntas

Which vector best describes the translation below?

explain the role of IFRS Interpretations committee .

An engineer would like to design a parking garage in the most cost-effective manner. He reads that the average height of pickup trucks, which is the largest typ

Expand to write an equivalent expression… 1/2(-4x + 2y)

Drag the numbers to put the following steps in the correct order

Help this is due in 15 mins!

Write the first 8 triangular numbers

What are the y-intercepts of this conic section? (0, −4) and (0, 4) (0, −2) and (0, 2) no y-intercepts (−2, 0) and (2, 0)

Abby is shooting a rocket off the top of a 128 foot tall building at a velocity of 96 feet per second. The equation to represent this is h(t) = -16t? +960 + 128

Name Some musical Instruments!

DelcieRiveria DelcieRiveria · Answer 1 · 2019-12-04T10:32:51+01:00

Answer:

The correct answer is: false.

Explanation:

The absolute value of price elasticity greater than 1 implies that the demand for basketball game tickets relatively prices elastic.

In other words, a change in price causes more than proportionate change in the quantity demanded.

In this situation, if the price for tickets is increased, the quantity demanded will decrease by more than proportionate. This will cause total revenue to decline.

So the given statement is false.