Author Question: When demand is elastic, an increase in price will lead to an increase in total revenue a. True b. ... (Read 166 times)

neverstopbelieb · **on:** Jul 1, 2018

When demand is elastic, an increase in price will lead to an increase in total revenue
a. True
b. False

Question 2

It has been suggested that if NHL hockey teams would lower ticket prices, they could increase revenue from ticket sales. Which of the following assumptions forms the basis for this suggestion?
a. Both d and e are correct.
b. All of the following are correct.
c. Demand for NHL hockey is income inelastic.
d. Demand for NHL hockey is price elastic.
e. There are many substitutes for NHL hockey.