It has been estimated that the price elasticity of demand for attending baseball games is 0.23. Other things held constant, a 10 percent increase in attendance can be explained by a:
A. 43.48 percent fall in the price of a ticket.
B. 43.48 percent rise in the price of a ticket.
C. 23 percent fall in the price of a ticket.
D. 23 percent rise in the price of a ticket.

Correct option: (A) 43.48% fall in the price of a ticket.

Step-by-step explanation:

The price elasticity of demand is defined as the percent change in quantity demanded to the percent change in the price.

Given:

Price elasticity of demand = 0.23

% change in quantity demanded = 10

Compute the % change in price as follows:

Thus, a 10 percent increase in attendance can be explained by a 43.48% fall in the price of a ticket.

c

step-by-step explanation:

this is the formula: v = the value of investment at the end of the time period

p = the principal amount (the initial amount invested)

r = the annual interest rate

n = the annual frequency of compounding (how many times a year interest is added)

t = the number of years the money is invested

^ means raise to the power of