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Answer to Question #200090 in Macroeconomics for tanya
Question #200090
Given that revenues increased when concession prices fell, what can you say about the price elasticity of demand for stadium food?
Expert's answer
The price elasticity of demand is elastic.
This is the case when upon the falling of prices in the market, there is a rise in the total revenue.
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#340153 on Dec 2023
#340153 on Dec 2023
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