Table 6-6

-Refer to the Article Summary above.How would the NFL know if it was operating on the elastic portion of the demand curve for Super Bowl tickets?
A)If they increased ticket prices and the total revenue from ticket sales increased.
B)If they increased ticket prices and the total revenue from ticket sales did not change.
C)If they increased ticket prices and the total revenue from ticket sales decreased.
D)If they decreased ticket prices and the total revenue from ticket sales did not change.

Question

Table 6-6
 
-Refer to the Article Summary above.How would the NFL know if it was operating on the elastic portion of the demand curve for Super Bowl tickets?
A)If they increased ticket prices and the total revenue from ticket sales increased. 
B)If they increased ticket prices and the total revenue from ticket sales did not change. 
C)If they increased ticket prices and the total revenue from ticket sales decreased. 
D)If they decreased ticket prices and the total revenue from ticket sales did not change.

Quizplus · Accepted Answer

In the elastic portion of the demand curve, an increase in price leads to a decrease in total revenue, indicating that the quantity demanded is sensitive to price changes.

Table 6-6 -Refer to the Article Summary Above.How Would the NFL Know