A movie theater has a seating capacity of 3000 people. The number of people attending a show

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A movie theater has a seating capacity of 3000 people. The number of people attending a show at price p dollars per ticket is q = (18,000/p) - 1500. Currently, the price is $6 per ticket.

(a) Is demand elastic or inelastic at p = 6?

(b) If the price is lowered, will revenue increase or decrease?

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Calculus And Its Applications

ISBN: 9780134437774

14th Edition

Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar

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Question Posted: Mar 26, 2023 03:41 AM

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A movie theater has a seating capacity of 3000 people. The number of people attending a show

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The elasticity of demand Ep at price p fo...View the full answer

Calculus And Its Applications

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