Answer:
The correct answer is: false.
Explanation:
The absolute value of price elasticity greater than 1 implies that the demand for basketball game tickets relatively prices elastic.
In other words, a change in price causes more than proportionate change in the quantity demanded.
In this situation, if the price for tickets is increased, the quantity demanded will decrease by more than proportionate. This will cause total revenue to decline.
So the given statement is false.
