Yes. I expanded all 4 sections recently and raised prices and the bleachers failed to fill up. The bleacher fans are a very fickle bunch and DO respond to prices.
My experience suggests that the response of bleacher fans is even more sensitive than that of the more expensive seats.
In my example above, I also raised prices on lower tier and courtside seats, while dropping the price of luxury boxes (though I previously had no luxury boxes in my arena, so this is a rather moot point). My results after expansion and price hike were:
Bleachers14-18-25 Nov: $12 (cap. 4750)
Sold: 4750, 4750, 4750
2-9 Dec: $14 (cap. 5000)
3643, 3976
Lower Tier 14-18-25 Nov: $40 (cap. 500)
Sold: 500, 500, 500
2-9 Dec: $44 (cap. 550)
Sold: 502, 532
Courtside14-18-25 Nov: $125 (cap. 100)
Sold: 100, 100, 100
2-9 Dec: $131 (cap 110)
Sold: 104, 108
Now that I've charted it all out, it occurs to me that there may be something in the
percentage of the price increase. A raise from $12 to $14 is a price increase of ~17%, whereas increasing from $40 to $44 is a mere 10% hike, and a raise from $125 to $131 increases the price less than 5%.
This all makes me wish I had a lot more data from which to draw conclusions.