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Question: the pittsburgh steelers are considering increasing the price of the...

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The Pittsburgh Steelers are considering increasing the price of the their jerseys the sell in the stadium from $130.00 to $165.00; however they found their sales decreased from 30,000 to 22,300 during one game. Should they increase their price, what is the Ed coefficient, is the demand elastic, inelastic, or unit elastic? What happened to the total revenue? Is this a good move or a bad move for the team?

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