Solution: Suppose that the Tennessee Titans‘ owner, Bud Adams, is considering a plan in which fans who donate blood pet a $20 reduction in their ticket


Question: Suppose that the Tennessee Titans‘ owner, Bud Adams, is considering a plan in which fans who donate blood pet 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?

  1. The demand for Tennessee Titans' tickets is price elastic.
  2. The demand for Tennessee Titans‘ tickets is price inelastic.
  3. The demand for blood donations is price elastic.
  4. The demand for blood donations is price inelastic.

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