question 1: Summer is a critical time for the movie industry since it typically accounts for about 40% of annual cinema revenue. In 2019, industry sources reported a record summer season, with revenue rising to $4.6 billion. The average ticket price of $8.15 increased by more than 20% over the prior year. The number of tickets sold, however, fell by 5%. The change in ticket price and quantity is consistent with

Group of answer choices

demand shifted out as moviegoers found new 3-D movies to be a high quality experience

a. supply shifted out due to a larger number of new movies

b. none of the other choices is correct

c. demand shifted in due to the economic recession

d. supply shifted in due to a decline in the number of cinemas

Question 2: An additional trend in the movie industry is that there are fewer screens throughout the U.S. to watch wide-release first-run movies (new movies shown throughout the country). What factor could be responsible for these increased levels of shut-down in the wide-release first-run movie industry?

Group of answer choices

With the increased share of 3-D movies, movie studios are charging theaters a higher fee to show their movies.

a. More complex regulations in many metropolitan areas have made it more costly to obtain the permit required to build a large building like a movie theater.

b. Rising steel prices have made it more expensive to build a movie theater.

c. None of the other choices is correct.

d. Movie studios are increasingly choosing to promote limited-release "independent" films by contractually lowering the price movie theaters are able to charge customers for an independent film ticket.