Holding all other things constant,a higher price for ski lift tickets would

Question

Quizplus · Accepted Answer

Typically, higher prices for ski lift tickets would result in a decrease in the number of skis sold. This is because higher prices may deter some consumers who may opt for alternative winter recreational activities or decide not to go skiing as frequently. It is unlikely to increase the number of skiers, as higher prices may imply a luxury good or demand may be inelastic. Higher prices for ski lift tickets would not necessarily increase the prices of skis or decrease the demand for other winter recreational activities, so options B and D can be eliminated.

Holding All Other Things Constant,a Higher Price for Ski Lift