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Question: a3 elasticity and revenue question 2 you are managing ticket...

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A.3 Elasticity and Revenue Question 2: You are managing ticket sales for Creedence Clearwater Revisited at the Ventura County Fairgrounds. You pay the Fairgrounds a $900 fee to hold the concert. You figure the $900 fee is the only cost to you of holding the concert. You are left with the choice of how much to charge for each ticket. Your marketing department estimates that the demand for the concert is Q750 150 P, with P measured in $ What price should you charge? What demand quantity should you expect? What profit should you expect? What is your own-price elasticity of demand? Answer to Question:
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