The Sioux Valley Parakeets, a minor league baseball team, has hired you as a consultant to...
The Sioux Valley Parakeets, a minor league baseball team, has hired you as a consultant to predict ticket sales for the upcoming season, and to advise on changes in ticket prices.
The current price is $7.50. If Ep (elasticity price) is -.85, predict the percentage change in tickets if price is raised to $8.50. Will revenue rise or fall? How does your answer change if elasticity is -1.1?
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The Sioux Valley Parakeets, a minor league baseball team, has
hired you as a consultant to...
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