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Question
The following questions are based on the following information regarding the gross monthly receipts of a miniature golf course in a resort community at the shore.| Price per game | Gross monthly receipts |
| $5.00 | $43,750 |
| $4.50 | $45,000 |
| $4.00 | $45,000 |
| $3.50 | $43,750 |
| $3.00 | $41,250 |
| $2.50 | $37,500 |
Between $2.50 and $3.00, demand is
a. perfectly price inelastic. d. of unitary elasticity.
b. relatively price inelastic. e. absolutely elastic.
c. relatively price elastic.
Answer
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