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Crown Cinema recently increased the price of a movie ticket by 5%. As a result, attendance dropped by 8%. Based on this information, what is the price elasticity of demand for movie tickets at Crown? What, if any, other factors could have accounted for some of the decline in attendance leading to an overinflated price elasticity of demand? If the cinema reduced its prices by 5% instead of raising its prices by 5%, what change in attendance would you expect? If a competing cinema reduced its prices by 10%, how would you expect this action to affect demand at Crown? How should the cinema determine an optimal ticket price?
Assume a per-unit tax of $2.00 is levied on the producers of Gadgets. Illustrate what is the after-tax market equilibrium price and quantity.
There is a direct relationship between a growing real GDP also rising pollution. Growth provides an economic environment favorable to education also self-fulfillment.
Illustrate what is the firm's current profit. Illustrate what is likely to occur in this market.
Bob consumes two commodities: x and y. For what values of py will Bob buy y, and for what values of py will Bob buy only x?
Which nation has comparative advantage in wheat production? In cotton production. Which nation has absolute advantage in wheat production.
How is this going to involve prices in the marketplace for New York City. Create sure to provide appropriate economic terms in your answers.
You are the manager of a paper mill and have been subpoenaed to appear before a joint session of the Senate Consumer Affairs and the Senate Environmental subcommittees. What raised in the joint session of the subcommittees.
What would be benefits of action. What would be costs. How would you decide what was best level of emission reduction. Why do you think your approach would be better than others.
How many popsicles will be sold/supplied each day in the short run if the price rises to $4 each per day
Identify also converse at least two arguments which support trade restrictions also two Once modest trade restrictions.
What is retained earnings. What items increase balance in retained earnings. What items decrease balance in retained earnings.
A price index for nonresidential construction was 14 in 1949, 92 in 1987, and 114.5 in 2000. As per to these numbers the hospital cost about how much in 2000 dollars. Explain the price of a good is above equilibrium.
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