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Price Elasticity of Demand

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Attendance at Walt Disney dropped by 8% after prices for ticekts rose by 5%. What is the PE of demand for these tickets and could the PE be over-estimated by these figures? Please name other factors that could cause a decline in tickets purchased other than PE.

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The Price Elasticity of Demand measures the rate of response of quantity demanded due to a price change. The formula for the ...

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