Florida State University has just lowered the price of its season football tickets from $350.00 to $300.00. As a result, there was an increase in the number of season tickets purchased from 43,000 to 47,000
The price elasticity of demand for season tickets equals A) 1.71.
B) 1.58.
C) 0.71.
D) 0.58.
D
Economics
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A decrease in the price of a resource would cause
a. producers to substitute other inputs for the resource. b. the cost of products made from the resource to fall. c. producers to use more of the resource. d. none of the above. e. both b and c above.
Economics
Which of the following is most likely to reduce the nominal market wage in a job category?
a. The job requires employees to work the night shift from 11 p.m. to 7 a.m. b. The job is prestigious, and the work is quite interesting. c. The job is widely viewed as dangerous. d. The job requires employees to move from city to city quite often.
Economics