Recall the Application about setting the price of tickets for Major League Baseball games to answer the following question(s).
-According to the Application, due to the marginal revenue from ticket sales for a typical Major League Baseball team, the team could increase total revenue from ticket sales by ________ the price of tickets and ________ the quantity of tickets sold.
A) increasing; increasing
B) increasing; decreasing
C) decreasing; increasing
D) decreasing; decreasing

Question

Quizplus · Accepted Answer

According to the Application, the marginal revenue from ticket sales for a typical Major League Baseball team is negative, which means that increasing the quantity of tickets sold will result in a decrease in revenue. Therefore, the team could increase total revenue from ticket sales by increasing the price of tickets while decreasing the quantity of tickets sold. This is consistent with the answer choice B.

Recall the Application About Setting the Price of Tickets for Major