Business, 26.02.2020 05:37 cupcake20019peehui

A 10% increase in the price of movie ticket in Westridge 8 leads to a 15% decrease in the number of tickets sold, indicating the demand for movie ticket in Westridge 8 is:

a) elastic.
b) inelastic.
c) unit elastic.
d) Can not tell from the information given.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 11:00

Acompany that adapts its product mix to meet the needs of a new market is using which of the following global marketing strategies market development diversification strategy product development undiversified

Answers: 3

Answer

Business, 22.06.2019 21:10

Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.

Answers: 3

Answer

Business, 22.06.2019 22:30

Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. in this case, the country that produces jeans will produce million pairs per week, and the country that produces corn will produce million bushels per week.

Answers: 1

Answer

Business, 23.06.2019 00:30

What level of measurement (nominal, ordinal, interval, ratio) is appropriate for the movie rating system that you see in tv guide?

Answers: 2

Answer

You know the right answer?

A 10% increase in the price of movie ticket in Westridge 8 leads to a 15% decrease in the number of...

Questions

Business, 13.12.2021 21:00

Marginal shows how much money can be made if a producer sells one additional unit of a good. Marginal shows how much money can be made if a p...