British Columbia has been singularly successful at managing the Covid-19 Pandemic, and as a result, there has been a gradual re-opening of stores, hair salons, restaurants and movie theatres.

Suppose that the newly re-opened Movie Theatres reduce their price of admission from $20.00 to $17.00 to get people to come back. Suppose, as a result of the reduced price in movie theatres, the "New drive-in movie theatre"from question 1 experiences a reduction in the number of cars from their equilibrium of 350 cars to 275 cars a night.

i. Given the Sign of your calculation, EXPLAIN carefully; (1) the Type of Relationship between the re-opened movie theatres and the "New drive-in movie theatre"AND, (2) the interpretation of the Elasticity value calculated