A movie theater estimates that the price elasticity of demand for evening movie tickets is 1.22.  If the theater wishes to maximize revenue from evening tickets, should it increase the price, lower it, or keep it the same?    a) It should increase the price. b) It should lower the price. c) It should keep the price same.

suppose the price of a product rises from 10 to 14 dollars and, as a result, the quantity demanded falls from 15 to 5 units. using the market midpoint formula, the absolute value of the elasticity of demand for this product is equal to   a.) 2.5 b.) 3 c.) 1 d.) 1/3

1) Price elasticity of demand and total revenue Advise the product manufacturer as to how to increase total revenue for the product. 2)

Suppose Amazon lowers its Prime membership annual fee from $119 to $109, Suppose the price elasticity of demand for Amazon Prime subscriptions in this price range is -0.9. You predict that the quantity of subscriptions demanded will (increase/decrease) Write your response here. by Type your answer here % and that Amazon's total revenue will (increase/decrease) Write your response here. by Type your answer here 6.