Average Movie Ticket Rises to $9.26 in the Sec- ond Quarter The average price of a movie

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Average Movie Ticket Rises to $9.26 in the Sec- ond Quarter The average price of a movie ticket rose to $9.26 in the second quarter of 2019, up from $9.01 during the first three months of the year. Admis- sions dipped 2.5 percent. Source: The Hollywood Reporter, July 18, 2019.

a. Use the information in the news clip to calcu- late the price elasticity of demand for movie tickets.

b. How has the price elasticity of demand for movie tickets changed over the past two decades? Why?

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