There are five horseracing tracks in kentucky the kentucky, Microeconomics

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There are five horseracing tracks in kentucky the kentucky

Question: There are five horseracing tracks in Kentucky. The Kentucky legislature allows only one track to be open at a time.

a. How will it affect the elasticity of demand for horse racing tickets?

b. How does this restriction affect the price the track can charge for its product?

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Microeconomics: There are five horseracing tracks in kentucky the kentucky

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