If the Canucks lower ticket prices and total ticket revenue does not change,then the price elasticity of demand for tickets is
A)zero.
B)greater than zero but less than 1.
C)equal to 1.
D)greater than 1.
E)negative.

Question

Quizplus · Accepted Answer

The price elasticity of demand is equal to 1 (unit elastic) when the percentage change in quantity demanded is exactly equal to the percentage change in price, resulting in no change in total revenue.

If the Canucks Lower Ticket Prices and Total Ticket Revenue