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erica [24]
3 years ago
9

Tom Cruise is a 17 year old high school student who works as an assistant manager at the local movie theater. If an increase in

the price of movie tickets results in an increase in total revenue at the theater, this is evidence that the demand for movie tickets is:_________a) price elasticb) price inelasticc) unitary elasticd) perfectly inelastice) perfectly elastic
Business
1 answer:
pickupchik [31]3 years ago
5 0

If an increase in the price of movie tickets results in an increase in total revenue at the theater, this is evidence that the demand for movie tickets is  price inelastic.

Option B

<u>Explanation: </u>

Price elasticity of production is often used in economics to explain the reactivity, or elasticity, to increase prices of the quantity requested by a good or service, when only prices change.

In the case of a change in the price of $200 to $202, for example, a 1% rise, and demand change between 1,000 to 995 units, a reduction of less than 1%, the drugs are inelastic.

The drug would be regarded as completely inelastic if the price increase had no impact on the amount ordered. Medical needs and procedures are relatively inelastic since they are necessary for survival, while luxury goods, like cruises and sports cars, are usually fairly elastic.

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If men and women respond dissimilarly to the marketing efforts for a root beer-flavored malt beverage, they are considered _____
Usimov [2.4K]

Both of the men and women will be considered differentiable in market segments when they respond dissimilarly with the marketing effort. Being differentiable means that other people in segments has established different needs than of others who have the same.

3 0
3 years ago
Bonds Payable has a balance of $1,000,000 and Discount on Bonds Payable has a balance of $10,000. If the issuing corporation red
zheka24 [161]

Answer:

Bonds Payable         $1000000 Dr

     Gain on redemption                   $15000 Cr

     Discount on bonds Payable      $10000 Cr

     Cash                                            $975000 Cr

Explanation:

The face value of bonds payable is $1000000 while they are a discount bond and carry a discount of $10000. The value of bonds is 1000000 - 10000 = 990000.

The bonds, however, are redeemed at 97.5 which means they are redeemed by paying 97.5% of face value which comes out to be 975000.

Thus, the difference between their value and the redemption price is the gain as value is greater than the price paid for them at redemption.

Gain = 990000 - 975000 = $15000

5 0
4 years ago
Read 2 more answers
Forlornistan is a country in the midst of a serious economic downturn. Forlornistan's GDP has declined steadily for over three y
goblinko [34]

Answer:

The correct answer is option c.

Explanation:

Forlornistan is experiencing an economic downturn, the GDP has steadily declined, the employment rate is very low and the CPI is falling.

All these characteristics show that the economy is going through economic depression.

Depression refers to the situation in which an economy suffers a downturn in economic activities. It involves decrease in output level, price and employment rate.

6 0
3 years ago
Which of the following statements accurately describes the free enterprise
Readme [11.4K]

Answer:

Businesses are generally free of government ownership and

control

Explanation: The answer is C.

6 0
3 years ago
A rise in the domestic real interest rate would cause a ________ in net exports and a ________ in the exchange rate.
Kisachek [45]

A rise in the domestic real interest rate would cause a fall in net exports and a RISE  in the exchange rate.

In general, businesses and consumers spend less when interest rates are high. This is because borrowing money costs more when interest rates are high. As a result, companies frequently turn to the stock market to raise money, which can cause stock values to decline.

An increase in interest rates causes the local currency to appreciate. In comparison to domestic goods and services, import prices decline. Exports see a decline in profitability and competition. Exports decline while imports rise, reducing the net export portion of total demand and spending.

To learn more interest rate would cause a fall in net exports and a RISE  about:

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1 year ago
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