1). In 2010 a one-day one-park ticket to Disneyland cost $76,by 2015 the same ticket cost $99.

During that same time period the daily attendance at Disneyland increased from approximately 44,000 to over 50,000.(Though I have no data regarding annual pass versus daily ticket sales, assume during this time the number of one-day one-part tickets did, in fact, increase.)

Summarizing, between 2010 and 2015, the price of Disneyland tickets increased... but the quantity sold Disneyland tickets also increased.

Does this suggest that Disneyland Ticket sales violated the law of demand during this period?Why or why not?

Hint: Make sure you are reading the law of demandin its entirety.

2) Cans of Arizona Iced Tea are famously printed with a price 99 cents on the can.

Your friend says that he believes that the demand for cans of Arizona Iced Tea isperfectly elastic.

What does he mean(explain like I have never taken economics)?Do you think he is right?Explain your answer.