A-LevelEconomicsThe price system and the microeconomy9708/12 · Feb/Mar 2019 · Q61 Mark
A theatre increases the price of its tickets from $10 to $15. As a result, its total receipts decrease from $10000 to $6000. Within what range does the price elasticity of demand for theatre tickets lie?
A0.2 to 0.5
B0.6 to 1.0
C1.1 to 1.4
D1.5 to 2.0
✓ Correct answer
C: 1.1 to 1.4
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