Consider the musical, Les Miserables, is currently playing at the Lyric Theatre in QPAC (Queensland Performing Arts Centre). QPAC knows at the current price, the point elasticity of demand for tickets is 0.18. Select the item from the list provided to make the following statements true. If the demand for seats were 1. Budget perfectly inelastic, then the value 2. 1 of elasticity along the demand 3. greater curve would be equal to 4. 0.18 5. necessary v A 1% increase in the price of 6. increase tickets to see Les Miserables 7. luxury would lead to a % 8. 0 decrease in the quantity of tickets 9. decrease demanded. 10. time 11. substitute -02 - Les Miserables is recognised as 12. demand being a popular and critically acclaimed musical. Some people will pay almost anything for a ticket to go to a performance. Economists would see the ticket -02 purchased by these people as being a good