question archive Suppose Wally World, located just down the street from Six Flags, decides to raise its ticket prices by 10 percent
Suppose Wally World, located just down the street from Six Flags, decides to raise its ticket prices by 10 percent
Subject:EconomicsPrice:2.88 Bought3
Suppose Wally World, located just down the street from Six Flags, decides to raise its ticket prices by 10 percent. Assume the elasticity of Six Flags tickets with respect to the price of Wally World ticket prices is 0.75. Six Flags had been selling 6,000 tickets a day. In light of the price increase by Wally World, what level of Six Flags tickets sales would you expect?
a. 6,000
b. 5,550
c. 6,450
d. none of the above
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