A cinema contains 500 seats. Its admission price was increased from $\$2$ to $\$5$, and its daily revenue rose from $\$800$ to $\$1500$. What conclusion may be drawn from this information?
- APrice elasticity of demand for cinema seats was elastic.
- BPrice elasticity of supply of cinema seats was elastic.
- CThe cinema operated below full capacity.
- DThe cinema’s profits rose by $\$700$.