Which of the following events would increase the price elasticity of demand for Chicago Bears tickets that sell at a price of $20?
A) b and c.
B) The Bears are having a successful season.
C) The visiting team is having a successful season.
D) The Bears have been defeated in their previous seven games.
E) The weather on game day will be warm.

Question

Quizplus · Accepted Answer

When the Bears have been defeated in their previous seven games, the demand for tickets is likely to become more elastic because fans may be less interested in attending games, making them more sensitive to price changes.

Which of the Following Events Would Increase the Price Elasticity