Please answer the following questions based on the given information on the spreadsheet

a. What is the elasticity of demand from 1991 to 1994 using average ticket?Round to two decimal points

b. What is the elasticity of demand from 2014 to 2019 using average ticket? Round to two decimal points.

c. Which of the following is true about the elasticity [pick all that apply]

1. Demand is inelastic for both data sets
2. Consumers were more price sensitive from 1991 to 1994
3. Consumers were more price sensitive from 2014-2019
4. Demand is elastic for 1991 to 1994 only
5. Demand is elastic for both data sets

d. What is the effective price in 2018?

e. What is the effective price in 2019?

f. What is the price ratio in 2018? Round to two decimal points

g. What is the price ratio in 2019? Round to two decimal points

Detroit Tigers Dataset Avg. Attend FCI Avg. Ticket 1991 20267 $83.49 $9.47 1992 17580 $82.94 $9.41 1993 24339 $92.18 $10.46 Slope 1994 14627 $103.44 $11.73 Avg. Ticket 777.898 1995 14580 $96.40 $10.93 1996 14427 $109.40 $12.41 1997 16854 $108.10 $12.26 What is the elasticity of demand from 1991 to 1994 using average ticket? 17400 Use the same slope for both data sets 1998 $102.10 $11.58 What is the elasticity of demand from 2014 to 2019 using average ticket? 1999 25018 $108.42 $12.30 *Note: 2017 data is missing 2000 31281 $165.32 $18.75 2001 23720 $160.80 $18.24 Have fans become more price sensitive or less? 2002 18560 $160.76 $18.23 2003 16892 $157.44 $17.86 2004 23667 $149.61 What is the effective price and price ratio for the years below: $16.97 2005 24993 $157.93 $17.91 2018 2006 32049 $162.93 $18.48 2019 2007 37619 $166.80 $19.45 2008 39539 $190.13 $25.28 2009 31694 $205.02 $27.38 2010 30386 $172.92 $23.48 2011 32618 $207.28 $29.32 2012 37383 $233.49 $31.00 2013 38067 $207.42 $26.36 2014 36015 $219.88 $28.22 2015 33655 $213.03 $29.01 2016 30788 $214.52 $28.88 2018 22926 $201.60 $28.15 2019 18536 $212.22 $28.31