« previous next »

Author Question: If a decrease in the price of movie tickets increases the total revenue of movie theaters, this is ... (Read 92 times)

frankwu

  • Hero Member
  • *****
  • Posts: 549
on: Jun 30, 2018
If a decrease in the price of movie tickets increases the total revenue of movie theaters, this is evidence that demand is:
 a. price elastic.
  b. price inelastic.
  c. unit elastic with respect to price.
  d. perfectly inelastic.

Question 2

If demand is price elastic, a decrease in price causes:
 a. an increase in total revenue.
  b. a decrease in total revenue.
  c. no change in total revenue.
  d. an increase in quantity, but anything can happen to revenue.


ryrychapman11

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Rhytidoplasty. This is a common form of plastic surgery in which the skin is pulled and sutured to d Rhytidoplasty. This is a common form of plastic surgery in which the skin is pulled and sutured to d
Percentage of Foreign-Born Whites and Native Whites of Foreign or Mixed Parentage in Total Populatio Percentage of Foreign-Born Whites and Native Whites of Foreign or Mixed Parentage in Total Populatio
A company that makes environmental measuring devices has calculated their revenue and costs as ... A company that makes environmental measuring devices has calculated their revenue and costs as ...
Beak size in finches during dry years increases because of strong selection Beak size in finches during dry years increases because of strong selection
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Polyploidy increases fruit size Polyploidy increases fruit size
Video: Cortisol (protein catabolism, gluconeogenesis, vasoconstriction & anti-inflammation)

For a complete list of videos, visit our video library