Suppose the local semi-pro baseball team raises the price of their tickets from $15 to $25. Having done so, ticket sales fell from 6,000 to 4,000. Calculate the own price elasticity of demand and   determine if demand for this good is elastic, inelastic, or unitary elastic.

Survey Of Economics
10th Edition
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 5SQP: Suppose a university raises its tuition from 3,000 to 3,500. As a result, student enrollment falls...
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Suppose the local semi-pro baseball team raises the price of their tickets from $15 to $25. Having

done so, ticket sales fell from 6,000 to 4,000. Calculate the own price elasticity of demand and

 

determine if demand for this good is elastic, inelastic, or unitary elastic.

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