Question
Suppose the market supply curve for movie tickets is given by p=1/50Qs+7.5 and the market demand curve is given by p=30-1/50Qd+5n where n is an
Suppose the market supply curve for movie tickets is given by p=1/50Qs+7.5 and the market demand curve is given by p=30-1/50Qd+5n where n is an indicator that takes on the value 1 if Netflix raises its price and 0 if it does not. Suppose Netflix does not raise its price so n=0. What is the equilibrium price and quantity of movie tickets sold?
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Economics
Authors: Roger A. Arnold
12th edition
978-1305758674, 1305758676, 978-1285738321
