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2. The ABC movie theater has 300 seats . In a typical month , 25 percent of the seats are sold . The price elasticity
2. 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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