Suppose average movie attendance is 250 million ti


Suppose average movie attendance is 250 million tickets when prices are $7 a ticket and 200 million when prices are $9 a ticket. Other things being equal, the data imply that the elasticity of demand for movie tickets is: 


A. elastic, so the increase in price caused total revenue to rise. 

B. elastic, so the increase in price caused total revenue to fall. 

C. inelastic, so the increase in price caused total revenue to rise. 

D. inelastic, so the increase in price caused total revenue to fall.

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: Suppose average movie attendance is 250 million ti
Reference No:- TGS097564

Expected delivery within 24 Hours