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1.The ABC movie theater has 300 seats.In a typical month, 25 percent of the seats are sold.The price elasticity is estimated to be -0.9.The price

1.The ABC movie theater has 300 seats.In a typical month, 25 percent of the seats are sold.The price elasticity is estimated to be -0.9.The price of a ticket is $8.00.The manager wants to increase the attendance to 30 percent.What price should he charge per ticket?(Note: Use the arc elasticity formula.) Is this a good strategy? What would be your recommendation?

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