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name the economic expression with respect to sport pricing that describes a sport consumer who is...

name the economic expression with respect to sport pricing that describes a sport consumer who is likely to renew despite a significant price increase

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Answer: Today's the era of advancement in every sphere. A recurrent finding in estimate of the huge demand for sport events is pricing in the inelastic portion of demand the profit maximisation theory is explored for its inelastic pricing implications.

Hence, the consumers wants to buy more exploring product irrespect to price increase. As it result in creation of the fame a range of product facilitate the pricing process and strategies. So inelastic pricing implication is observed.

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