Having a hard time determining which is inelastic and elastic, Need Help determining which is elastic and inelastic in the attached question and also how to arrive at the answer for this question:
Suppose that the Tennessee Titans' owner, Bud Adams, is considering a plan in which fans who donate blood get a $20 reduction in their ticket price. If both ticket REVENUES and blood donations (i.e., number of pints donated) rise with this plan, which of the following is true?
A. The demand for Tennessee Titans' tickets is price inelastic
B. The demand for Tennessee Titans' tickets is price inelastic.
C. The demand for blood donations is price elastic.
D. The demand for blood donations is price inelastic.
Both Titans' tickets and blood donations are elastic, since both are affected by changes in price.
Mr Adams sells more tickets as evidenced by the rising ticket revenue. (He must sell more discounted tickets in order to INCREASE ...