Answer:
A) elastic demand
B) unit elastic demand
C) inelastic demand
Explanation:
A)
increases prices = 48 %
total revenue decreases = 59% hence, this is elastic demand. Since increase in price has brought about decrease in quantity demand definitely revenue will fall
B)
decreases ticket prices = 12 %
total revenue doesn't altered hence it s unit elastic demand, since there is change in price and quantity demand. So revenue remains unaltered.
C)
increases its prices = 52%
total revenue increases = 34%
Quantity demanded is lower to change in price hence, increase in total revenue. Hence it's inelastic demand
