A movie theatre owner runs an experiment. She decreases prices 2% and discovers that ticket sales increased
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A movie theatre owner runs an experiment. She decreases prices 2% and discovers that ticket sales increased by 5%. Also, she increases prices by 1% and discovers that sales decrease by 2%. What should the owner do to maximize revenue?
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Perhaps the easiest way to solve this problem is to substitute some numbers Suppose that sales are 1...View the full answer
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