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8 Mar 2018
C) (4 points) You own a small town movie theatre. You currently charge $5 per ticket for everyone who comes to your movies. Your friend who took an economics course in college tells you that there may be a way to increase your total revenue. Given the demand curves shown, answer the following questions. 101 Price 11 Price Adult Demand ....... Child Demand b) (1 point) What is the elasticity of demand between the prices of $5 and $2 in the adult market? Is this elastic or inelastic?
C) (4 points) You own a small town movie theatre. You currently charge $5 per ticket for everyone who comes to your movies. Your friend who took an economics course in college tells you that there may be a way to increase your total revenue. Given the demand curves shown, answer the following questions. 101 Price 11 Price Adult Demand ....... Child Demand b) (1 point) What is the elasticity of demand between the prices of $5 and $2 in the adult market? Is this elastic or inelastic?
Lelia LubowitzLv2
8 Mar 2018
