Final answer:
The demand for UF and FSU football game tickets is considered inelastic because a 10% price increase resulted in only a 5% decrease in attendance, indicating a less than proportional response in quantity demanded.
Step-by-step explanation:
If the price for tickets to UF and FSU football games increase by 10 percent, and because of this attendance falls by 5 percent, then demand is said to be inelastic. Demand elasticity measures how sensitive the quantity demanded is to a change in price. In this case, a 10 percent increase in price led to a only 5 percent decrease in attendance, which indicates that the demand change is less than the price change. Therefore, the demand is inelastic because the percentage change in quantity demanded is less than the percentage change in price.