question archive One year my season tickets cost $24 a ticket, and I got my renewal package and they had dropped the price to $14 [a ticket]
One year my season tickets cost $24 a ticket, and I got my renewal package and they had dropped the price to $14 [a ticket]
Subject:EconomicsPrice:2.89 Bought3
One year my season tickets cost $24 a ticket, and I got my renewal package and they had dropped the price to $14 [a ticket]..."
-A lifelong Dallas Mavericks fan in The New York Times
This action by Mavericks ownership will season ticket revenue if market demand is ___________.
a)Not change ; unit elastic
b)Decrease ; elastic
c) Increase ; inelastic
d) All of the other answer choices are correct
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ans ) I think there is some problem with the options given the correct option will be
decrease and inelastic. because as price goes down revenue decrease if the market demand is inelastic because people will keep the demand unchanged but you have decrease the price.
