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Movie attendance dropped 8 percent as ticket prices rose a little more than 5 percent. What is the price elasticity of demand for movie tickets. Could price elasticity be somewhat overestimated from these figures? That is, could
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A baseball team plays in a stadium that holds 51,000 spectators. With ticket prices at $10, the average attendance had been 49,000. When ticket prices were lowered to $8, the average attendance rose to 51,000 a. Find the demand
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