The price elasticity of demand for movies is approximately 1 and 500,000 tickets are sold per day. If the average price of a movie ticket increases by 20 percent, the number of tickets sold each day decreases to ________
A) 400,000
B) 300,000
C) 420,000
D) 475,000
A
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In the above figure, B is the current long-run aggregate supply curve and E is the current short-run aggregate supply curve. Technological advances mean the long-run aggregate supply curve and short-run aggregate supply curve
A) remain B and E. B) shift to A and D, respectively. C) shift to C and F, respectively. D) shift to C and remain E, respectively.
Sam is suing someone in court for $10,000. The probability that Sam will lose the case is 1/h where h is the number of hours that Sam's attorney works on the case
The lawyer charges $500 per hour if he is to be paid hourly, or he requests 20% of the settlement if he is to be paid on a contingency basis. Assuming both Sam and the attorney are risk-neutral wealth maximizers, is either contract efficient?
This table shows individual demand schedules for a market.
According to the table shown, if the price were $0.50, what will total demand by Betty and Barney be?
A. 18
B. 36
C. 75
D. 47
A fund whose goal is to invest in economic development and job creation in impoverished areas is a/an ______.
A) impact-investment fund B) community fund C) microlending fund D) inward-focused fund