How far should you decrease the price of a lift ticket to increase - ProProfs Discuss
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How far should you decrease the price of a lift ticket to increase sales by the desired amount? A the manager of a ski resort you want to increase the number of lift tickets sold by 8%. Your staff economist has determined that the price elasticity of demand for lift tickets is -0.5.



A. 2%
B. 4%
C. 8%
D. 16%

This question is part of Microeconomics Exam #1
Asked by Wlkg, Last updated: Feb 03, 2019

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3 Answers

John Adney

John Adney

Answered on Feb 14, 2017

What this is soooooo cool
 Reply

John Adney

John Adney

Answered on Feb 06, 2017

Why wouldn't it be 1.6%?
 Reply

John Smith

John Smith

Answered on Oct 26, 2016

16%
 Reply

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