Jesse operates an indie movie theatre in Ottawa. He sells 80 tickets per movie screening at the current ticket price and the market is in equilibrium. Jesse wants to open another theater in Toronto, where incomes are 20% higher than in Ottawa. Assuming that the income elasticity of demand for indie movies is 0.8 and that Jesse charges the same admission price in both cities, how many tickets will he be able to sell in his Toronto theater? 22% more 16% more 22% less 20% more Question 3 (1 point) Which of the following is true at minimum total cost output? O Average variable cost is equal to marginal cost Average total cost is equal to marginal cost Average variable cost is higher than marginal cost Average total cost is higher than marginal cost 7.png