Problem
The San Francisco Giants want to boost revenues from ticket sales next season. You are hired as an economic consultant and asked to advise the Giants whether to raise or lower ticket prices next year. If the elasticity of demand for Giants game tickets is estimated to be -1.6, what would you advise? If the elasticity of demand equals -0.4?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.