Answer Happy

Assume that currently, a theater charges the same
price for a ticket to Adults and to Seniors.
An economist determines that the price elasticity of demand
for adults is -0.4 and that the price elasticity of demand for
Seniors is –3.
Based on this information, you advice the theater owner
to
Increase the price of both types of tickets to increase total
revenue
Decrease the price of senior tickets to increase total
revenue
Increase the price of adult tickets to increase total
revenue
Increase the price of senior tickets to increase total
revenue
Leave the price of senior tickets unchanged because total
revenue is already maximum
None of these answers is correct
Leave the price of adult tickets unchanged because total revenue
is already maximum