Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN: 9781133382119
Author: Swokowski
Publisher: Cengage
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A movie theater has a seating capacity of 3000 people. The number of people attending a show at price p dollars per ticket is q = (18,000>p) - 1500. Currently, the price is $6 per ticket. (a) Is demand elastic or inelastic at p = 6? (b) If the price is lowered, will revenue increase or decrease?
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