Business, 11.09.2019 01:30 dedgefield

One day, a local theme park charges $40 per person for admission, and 10,000 people visit the park. on another day, the park charges $60 per person, and 20,000 people pay to enter the park. which explanation best describes why the park sees an increase in attendance when the price is higher? theme-park tickets are part of a rare class of goods which do not follow the law of demand. high prices signal a high quality park experience. the higher price gives the park an incentive to expand capacity and permit more visitors. the low-attendance day falls on an autumn wednesday, while the high-attendance day falls on a summer saturday.

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One day, a local theme park charges $40 per person for admission, and 10,000 people visit the park....

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