Explain what mr ram is recommending with a discount

Reference no: EM13242094

Mr. Ram finds that the tickets booth should offer 30% rather than 50% discounts to maximize revenue. what does this say about demand elasticity at; a ticket's face value price; at a 50% discounted price; at a 30% discounted price? Draw a hypothetical supply and demand graph for tickets booth, tickets on a given day assuming face value price for a ticket is $60. Indicate what you think producers are likely doing with a 50% discount and what Mr. Ram is recommending with a 30% discount.

Reference no: EM13242094

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