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Author Question: If University of Nebraska increased its season football ticket sales from 43,000 to 47,000 when it ... (Read 177 times)

mikaylakyoung

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on: Jun 29, 2018
If University of Nebraska increased its season football ticket sales from 43,000 to 47,000 when it lowered price from 350.00 to 300.00, then its demand for season tickets must be ________ because total revenue ________ when the price was lowered.
 
  A) elastic; decreased
  B) elastic; increased
  C) inelastic; decreased
  D) inelastic; increased

Question 2

In the figure above, the initial demand curve is D0. There are no rent ceilings nor rent floors. The equilibrium monthly rent is
 
  A) 100 per month.
  B) 200 per month.
  C) 300 per month.
  D) 400 per month.


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Pswine

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

C


mikaylakyoung

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

strudel15

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Reply 3 on: Yesterday
:D TYSM

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