Solved

When the Price of a Movie Ticket Increases from $5

Question 52

Multiple Choice

When the price of a movie ticket increases from $5 to $7, the quantity of tickets demanded decreases from 600 to 400 a day. What is the price elasticity of demand for movie tickets?


A) 0.83
B) 1.20
C) 2.32
D) 1.00

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q47: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt=" -The above table

Q48: The elasticity of supply equals _ if

Q49: Supply is elastic if<br>A) the slope of

Q50: As time passes after a change in

Q51: Deb's income has just risen from $950

Q53: The demand for _ is more elastic

Q54: A 10 per cent increase in income

Q55: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4952/.jpg" alt=" -The demand curve

Q56: If the price of salt increases and

Q57: If a rise in the price of