Question: One day, a local theme park charges $40 per person for admission, and 10,000 people visit the par…

30 Apr Question: One day, a local theme park charges $40 per person for admission, and 10,000 people visit the par…

Posted at 19:19h in 2Past Paper by Exams

One day, a local theme park charges $40 per person for admission, and 10,000 people visit the park. On another day, the park charges $60 per person, and 20,000 people pay to enter the park. Which explanation best describes why the park sees an increase in attendance when the price is higher? O Theme-park tickets are part of a rare class of goods which do not follow the Law of Demand. O High prices signal a high quality park experience. OThe higher price gives the park an incentive to expand capacity and permit more visitors. O The low-attendance day falls on an autumn Wednesday, while the high-attendance day falls on a summer Saturday.

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