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Suppose the San Francisco 49ers lower ticket prices by 15 percent and as a result the quantity of tickets demanded increases by 10 percent. This set of results shows that San Francisco 49ers tickets have ________.

Respuesta :

Answer:

The correct answer is an inelastic demand.

Explanation:

Inelastic demand is that demand that is not very sensitive to a change in price. In this way, before a variation in the price the quantity demanded reacts in a less than proportional way. For example, if the price increases by 10% and in response the quantity demanded is reduced by less than 10%, then the demand is said to be inelastic.

There are several factors that determine the elasticity of demand at a given time. Here are some factors that tend to make demand more inelastic:

  • When they do not exist or there is little availability of substitutes, the elasticity of demand is lower
  • The goods that the consumer considers essential have a more inelastic demand (for example insulin)
  • In the short term demand tends to be more inelastic

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