1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Tju [1.3M]
3 years ago
13

You own a small town movie theatre. You currently charge $5 per ticket for everyone who comes to your movies. Your friend who to

ok an economics course in college tells you that there may be a way to increase your total revenue by increasing the price. Is this necessarily a good idea? What is/explain/describe the relationship between revenue and elasticity?
Social Studies
1 answer:
Liono4ka [1.6K]3 years ago
8 0

Answer:

An increase in price will increase revenue only if demand is inelastic.

Explanation:

A person owns a small-town movie theatre.

The price of a ticket for everyone is $5/ticket.  

An increase in price will cause revenue to increase if the demand for tickets is inelastic. An inelastic demand implies that a change in the price of the product would cause a less than proportionate change in the quantity demanded of the product.  

If demand is inelastic an increase in price will cause less than a proportionate decrease in quantity demanded. Overall, total revenue will increase.  

You might be interested in
Which structure is found in some but not all plant cells​
Allushta [10]

Answer: -Some (but not all) plant cells - mostly those in the middle of leaves - have chloroplasts - green structures which contain the pigment chlorophyll. This absorbs light energy which is then used in photosynthesis to make sugars.

Explanation:

8 0
4 years ago
Read 2 more answers
The two most important trade items in West Africa were
nikklg [1K]
Oil and silk  because the Africans would make  dresses out of the silk
8 0
3 years ago
I need help for 8 and 9 is it A b c or d
Alborosie
Number 8 is a 9 is c 
3 0
3 years ago
Read 2 more answers
Which rights are all consumers entitled to? Choose all answers that are correct. the right to receive certain goods and services
Veseljchak [2.6K]

Consumers entitled to the right to safety when using the goods and services they buy, the right to choose between a variety of goods and services at competitive prices, the right to be informed about the goods and services they buy.

Option: B, C, D

Explanation:

There are eight basic rights of consumer prevails like: Right to Satisfaction of Basic Needs, The Right to Safety, The Right to be informed, The Right to Choose, The Right to Redress, The Right to Consumer Education, The Right to heard, The Right to a Healthy Environment.

Consumers have the rights to be aware of every fact about the commodity which he is going to buy. Only they don't have right to receive certain goods and services at reduced cost. Otherwise as they are spending their money for a particular good and service so he has the right to know every details and good and bad side of that.

5 0
3 years ago
The Sahara has about 90 large oases (that is the plural of oasis). What is an oasis?
Sloan [31]
It is a small area with a liable water supply in the vast desert
7 0
3 years ago
Read 2 more answers
Other questions:
  • Explain the sources and process of power abuse, corruption, and destructive leadership and how to prevent them.
    8·2 answers
  • The Roman Catholic position on abortion incorporates
    12·1 answer
  • Is important in storage and recall of new long-term memories?
    7·1 answer
  • The tell tale heart why does the narrator seat himself and the officers in the room where the body is buried?
    6·1 answer
  • Which of the following would be most difficult to explain using Maslow's hierarchy of needs?
    13·1 answer
  • Why is the apple business important to the community
    13·2 answers
  • I got this guitar app supposed to help me learn to play guitar and I got all the notes U.U I’m so happy LOL
    12·2 answers
  • help me please!!!!!
    7·2 answers
  • Social studies hlp plssssssssssssssss
    5·2 answers
  • A fracture can be both ________
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!