Price per Ticket Quantity Demanded
$22 8,000
$20 9,000
$18 10,000
$16 11,000
$14 12,000
$12 13,000
Refer to the information about an upcoming concert of The Opportunity Costs, a hot new band. Assume the arena capacity is 11,000. Over the $22–$20 price range, demand is
Multiple Choice
inelastic.
perfectly inelastic.
elastic.
perfectly elastic.