Elasticity of demand equals

Reference no: EM13691058

The San Francisco Giants want to boost revenues from ticket sales next season. You are hired as an economic consultant and asked to advise the Giants whether to raise or lower ticket prices next year. If the elasticity of demand for Giants game tickets is estimated to be 1.6, what would you advise? What would be your advice if the elasticity of demand equals 0.4? Give your reasoning. Please give examples and use Economic terms

Reference no: EM13691058

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