If the absolute price elasticity of demand for movie tickets is 0.80, an increase in ticket prices will
A) increase total revenue.
B) decrease total revenue.
C) not change the elasticity of demand.
D) not change total revenue.
Answer: A
Economics
You might also like to view...
The rate at which one currency is traded for another is called a(n)
A. prime rate. B. trade rate. C. exchange rate. D. money rate.
Economics
The cyclical deficit is $400 billion, potential output is $9 trillion and the tax rate is 16 percent. With this information, we can infer that the actual output of this economy is:
A. $9 trillion. B. $6 trillion. C. $11.5 trillion. D. $6.5 trillion.
Economics