Suppose the price of movie tickets changes. The price change leads to a 10 percent decrease in the quantity demanded of movie tickets. This causes the total revenue from movie tickets to increase by 5 percent. Is the demand for movie tickets elastic, inelastic, or unit-elastic

inelastic

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.  

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.  

Demand is inelastic because the change in total revenue is less than the change in price.

elasticity of demand = 5/10 = 0.5

Elasticity of demand is less than 1

2b2t

explanation:

2b2t

answercompetitive advantage;