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antiseptic1488 [7]
3 years ago
10

If the San Diego Opera decreases the price of their opera tickets and their total revenue falls, then this suggests that, at the

original price, the demand for tickets to the San Diego Opera was:_____
a. unit elastic.b. elastic.c. inelastic.d. either elastic or inelastic.
Business
1 answer:
sergeinik [125]3 years ago
8 0

Answer: Inelastic

Explanation:

If the total revenue generated by the opera drops even after a reduction in the ticket prices, it means that the demand for the opera tickets is not affected by price changes therefore it is inelastic.

An inelastic demand is a demand for a product that is not affected by price changes of that product.

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Explanation:

The characteristics that are consistent with the efficient markets hypothesis are that

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<em>By definition efficient markets are those whose asset prices reflect all available information.</em>

2. Changes in stock prices are impossible to predict.

<em>The efficient market hypothesis has been described as a backbreaker for forecasters. In its crudest form it effectively says that the returns from speculative assets, are </em><em><u>unforecastable</u></em><em>.</em>

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