Julie is the chief executive officer (CEO) of the Black Gold Corporation and is also on the company's board of directors. Julie is considered ________ of the corporation.
A) an outside director B) a stockholder C) an owner D) an inside director
Question 2
You are the manager of a theater. At present the theater charges the same admission price of 8 to all customers, regardless of age. You propose a two-tier pricing scheme: 5 for children under the age of 12 and 10 for adults.
You tell your supervisor that your proposal is likely to increase revenue. What must be true about the price elasticity of demand if your proposal is to achieve its goal of raising revenue? Explain your answer.