According to an article on crainsnewyork.com, in 2018, the Metropolitan Museum of Art (the Met) in New

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According to an article on crainsnewyork.com, in 2018, the Metropolitan Museum of Art (the Met) in New York City had record attendance of 7.36 million, an increase of 5 percent over the previous year. During 2018, the Met had also increased the price of attendance.

a. Can we conclude from this information that the demand curve for visiting the Met is upward sloping? Briefly explain. 

b. The article also explained that New York City experienced an increase in the number of tourists during 2018 and that during the year, the Met offered several exhibitions that received good reviews. Does this additional information help you answer the question in part (a)? Briefly explain.  

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Economics

ISBN: 9780135957554

8th Edition

Authors: Glenn Hubbard, Anthony Patrick O Brien

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