The price elasticity of demand for tickets to local hockey matches is estimated to be equal to 0.89 . In order to boost ticket revenues, an economist would advise:
a. decreasing the price of hockey match tickets because demand is elastic
b. increasing the price of hockey match tickets because demand is elastic.
c. not changing the price of hockey match tickets because demand is unit elastic.
d. increasing the price of hockey match tickets because demand is inelastic.
d
Economics
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Indicate whether the statement is true or false
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A monopoly which arises from significant economies of scale is referred to as a
A) monopolistic competitor. B) strategic resource monopoly. C) natural monopoly. D) patent monopoly.
Economics