The relationship between the ticket price and the number of spectators is presented in the table: If the cinema has 2,600 seats and the ticket price is € 10, will the balance be achieved and the cinema hall will be completely full? How many places will be available? What is the equilibrium price? ticket price demand supply income 4 3000 6 2800 8 2600 10 2400 12 2200
The relationship between the ticket price and the number of spectators is presented in the table: If the cinema has 2,600 seats and the ticket price is € 10, will the balance be achieved and the cinema hall will be completely full? How many places will be available? What is the equilibrium price? ticket price demand supply income 4 3000 6 2800 8 2600 10 2400 12 2200
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter8: Understanding Markets And Industry Changes
Section: Chapter Questions
Problem 2MC
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The relationship between the ticket price and the number of spectators is presented in the table:
If the cinema has 2,600 seats and the ticket price is € 10, will the balance be achieved and the cinema hall will be completely full?
How many places will be available?
What is the
ticket price |
demand |
supply |
income |
4 |
3000 |
||
6 |
2800 |
||
8 |
2600 |
||
10 |
2400 |
||
12 |
2200 |
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