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30 May 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 d) (1 point) Given the graphs and what your friend knows about economics, he recommends you increase the price of adult tickets to $8 each and lower the price of a child's ticket to $3. Should you take his advice? Explain
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 d) (1 point) Given the graphs and what your friend knows about economics, he recommends you increase the price of adult tickets to $8 each and lower the price of a child's ticket to $3. Should you take his advice? Explain
Lelia LubowitzLv2
1 Jun 2018
