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Author Question: During its run on Broadway, the play The Producers regularly sold out all available tickets at the ... (Read 39 times)

scienceeasy

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on: Jun 29, 2018
During its run on Broadway, the play The Producers regularly sold out all available tickets at the St. James Theater. The theater could have raised ticket prices from 75 to 125 and still sold all available tickets but chose not to do so.
 
  The best explanation for this decision is
  A) theater owners do not want to raise their prices on weekends, when demand is high, and then have to lower prices during the week, when demand is lower.
  B) firms sometimes give up profits in the short run to keep their customers happy and increase their profits in the long run.
  C) theater owners are unaware of the elasticity of demand for Broadway shows.
  D) theater owners are not motivated to maximize their profits.

Question 2

Refer to Figure 13-13. If the diagram represents a typical firm in the market, what is likely to happen to its average cost of production in the long run?
 
  A) It will probably fall since the firm must be cost efficient to remain competitive.
  B) It will probably rise since the firm will be producing less than its current amount.
  C) It will probably rise since its long-run demand is likely to be higher.
  D) It will probably fall since the firm will be selling less than its current amount.
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GCabra

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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scienceeasy

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

sarah_brady415

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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