3. In1947 a ticket to a Brooklyn Dodgers World Series game cost $6 in the lower stands. Suppose the quantity demanded for these tickets equaled 22,419. If the Dodgers had instead charged $8and sold an average of 21,014 stand tickets the price elasticity of demand would have equaled____. This indicates a(n)____ demand.

1. .226; inelastic
2. 28.57; elastic
3. 6.469; inelastic
4. 1.00; unit elastic

4. Based on your answer to question #3, itwouldhavebeen__________ for Dodger revenue to raise prices because demand was __________ and therefore total revenue would have ____________. A tax imposed on each ticket to pay for extra police outside the stadium would have led to _______ revenue for the borough of Brooklyn.

1. Good, elastic, increased; less
2. Bad, elastic, decreased; more
3. Bad,inelastic, decreased; no change in
4. Good,inelastic, increased; more