Finance

Suppose that a small market Premier League Football team currently charges $12 for a ticket. At this price, they are able to sell 12,000 tickets to each game. If they raise ticket prices to $15, they would sell 11,053 tickets to each game. What is the price elasticity of demand at $12? If the demand curve is linear, what is the algebraic expression for demand? Suppose that the short-run world demand and supply elasticities for crude oil are -0.076 and 0.088, respectively. The current price per...