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Author Question: If movie theaters began collecting more gross income from ticket sales after lowering ticket prices, ... (Read 127 times)

cnetterville

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on: Jun 29, 2018
If movie theaters began collecting more gross income from ticket sales after lowering ticket prices, we would know
 
  A) movie patrons were not behaving consistently with the law of demand.
  B) movie quality must have increased.
  C) the demand for movie tickets was elastic.
  D) the demand for movie tickets was inelastic.
  E) the supply of movies had increased.

Question 2

Refer to the figure above. What is the producer surplus after Lithasia opens up to free trade?
 
  A) 2
  B) 3
  C) 6
  D) 9


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ndhahbi

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


cnetterville

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

nanny

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Reply 3 on: Yesterday
Excellent

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