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Leni [432]
3 years ago
5

The price elasticity of demand for tickets to local baseball games is estimated to be equal to 0.89. In order to boost ticket re

venues, an economist would advise:a. increasing the price of game tickets because demand is inelastic.b. not changing the price of game tickets because demand is unit elastic.c. increasing the price of game tickets because demand is elastic.d. decreasing the price of game tickets because demand is elastic.
Business
1 answer:
ankoles [38]3 years ago
5 0

Answer:

The correct answer is option a.

Explanation:

The price elasticity of demand for tickets to a baseball game is 0.89. This means that the demand is relatively inelastic.

Relatively inelastic demand means that a change in price will lead to a less than proportionate change in quantity demanded.

So at this point, if the price of tickets is increased, the decrease in price will be less than proportionate. This will lead to an increase in revenue and hence profits.

So to increase the revenue price of tickets should be increased.

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Efram’s audience was persuaded by his speech because they perceived him to be sincere, trustworthy, and to have their best inter
harina [27]

Answer:

Character.

Explanation:

Credible character is used for someone who is trustworthy, kind and believable, it has to be backed by evidence or experience. It carry the power to influence belief or thought. Crediblity of a character may slip if it is not maintained forever. As crediblity is earned through consistent honesty, selflessness,virtue and good behavior.

There are several dimensions of crediblity that affect audience toward speaker:

  • Competence
  • Extraversion.
  • Composure.
  • Character.
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8 0
3 years ago
Assume you have $2,000 in a savings account at the beginning of the year and the price level is equal to 100. If the price level
leva [86]

Answer:

$1,667

Explanation:

Given that,

Savings account at the beginning of the year = $2,000

Price level at the beginning of the year = 100

Price level at the end of the year = 120

Price level increases from 100 to 120

Therefore, what was worth $120 earlier, is not worth only $100.

Hence, $120 at the beginning of the year is worth = $100 at the end of the year

$1 at the beginning of the year is worth = ($100 ÷ $120) at the end of the year

Savings of $2,000 at the beginning of the year is worth:

= ($100 ÷ $120) × $2,000

= 0.833 × $2,000

= $1,667

Therefore, the real value of the savings is $1,667.

5 0
3 years ago
1.The percentage of the labor force that belongs to a union is known as the
Helen [10]
1) The percentage of the labor force that belongs to a union is known as the UNIONIZED PERCENTAGE RATIO.

2) The equilibrium wage rate is determined by the point of intersection of labor market supply and labor market demand. Equilibrium wage is the wage where the company agrees to pay and the worker agrees as the value of his work.

3) The effect of union exclusion of nonunion workers is to lower the wages of nonunion workers.

4) A market with one buyer and one seller is a bilateral monopoly. Monopoly is a market with only one seller. Monopsony is a market with only one buyer.
4 0
3 years ago
What are the benefits associated with free trade and globalization?
Drupady [299]

Answer:

It drives economic growth, enhanced efficiency, increased innovation, and the greater fairness that accompanies a rules-based system.

7 0
3 years ago
Name one form of collusion
Vera_Pavlovna [14]

Answer:

price fixing

Explanation:

The collusion occurs when firms agree to collaborate in a way that disrupt markets such as fixing prices above the actual price to alter the equilibrium of the market

3 0
3 years ago
Read 2 more answers
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