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July 31, 2015

Homework Help: economics

Posted by ALRL on Thursday, April 11, 2013 at 2:02pm.

Suppose average movie attendance is 250 million tickets when prices are $7 a ticket and 200 million when prices are $9 a ticket. Other things being equal, the data imply that the elasticity of demand for movie tickets is:


A. elastic, so the increase in price caused total revenue to rise.

B. elastic, so the increase in price caused total revenue to fall.

C. inelastic, so the increase in price caused total revenue to rise.

D. inelastic, so the increase in price caused total revenue to fall.

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