Suppose the Madison Mallard's ball club is suffering from low revenues and profits. If the company wants to increase ticket revenue and the price elasticity of demand is 1.75, the company should: a. Increase the price of tickets. b. Decrease the price of tickets. c. Keep the price unchanged because if the price is either increased or decreased total revenues will fall. d. Advertise. The only option the company has to raise total revenues is to advertise.
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