Multiple Choice
Hollywood Amusement, a small independent movie theater, decreased the price of admission from $5 to $4. Prior to the price decrease, the business sold 1,000 tickets each month. After the price decrease, it experienced ticket sales of 1,500 a month. If the change in sales is attributable only to the change in price, Hollywood Amusement faces ____ for its movie tickets.
A) inelastic demand
B) constant demand
C) variable demand
D) elastic demand
Correct Answer:
Verified
Correct Answer:
Verified
Q25: What would be the break-even point if
Q26: Trade credit is extended by businesses to
Q27: A pricing tactic whereby a firm sets
Q28: Explain what is meant by elastic demand
Q31: Which of the following is a retailer
Q32: In conducting a break-even analysis, it is
Q33: Assume you are responsible for managing accounts
Q34: Which of the following is true with
Q41: The total sales revenue of a small
Q64: Bank credit cards are widely accepted by