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The quantity demanded of Sharks tickets at $25 is 3500. An increase in price of $3 results in a decrease in the quantity demanded of

The quantity demanded of Sharks tickets at $25 is 3500. An increase

in price of $3 results in a decrease in the quantity demanded of tickets

by 600 tickets. With this information, using the "mid-point" formula,

calculate the price elasticity of demand for Sharks tickets and interpret

your results. In addition, was this a wise choice by Sharks management?

And why?

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