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PRT 476 -Question 1: Price Elasticity The Carolina TarWolfDeaconDevils are selling season tickets for the 2024 season and want to know their price elasticity. (use

PRT 476 -Question 1: Price Elasticity The Carolina TarWolfDeaconDevils are selling season tickets for the 2024 season and want to know their price elasticity. (use equation in PowerPoint lecture) In 2022, the team sold 5000 season tickets at $40 each. In 2023, the team raised the price to $60 and ticket sales decreased to 4,000. What is the elasticity of demand (Elastic or Inelastic)? Show your work. (2 pts) What if ticket sales decreased to 2000 instead in 2023? What is the elasticity of demand (Elastic or Inelastic)? Show your work. (1 pt) answers Pricing Worksheet 10 points Name: Question 1: Price Elasticity The Carolina TarWolfDeaconDevils are selling season tickets for the 2024 season and want to know their price elasticity. (use equation in PowerPoint lecture) In 2022, the team sold 5000 season tickets at $40 each. In 2023, the team raised the price to $60 and ticket sales decreased to 4,000. What is the elasticity of demand (Elastic or Inelastic)? Show your work. (2 pts) What if ticket sales decreased to 2000 instead in 2023? What is the elasticity of demand (Elastic or Inelastic)? Show your work. (1 pt)

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