Modern multiplex and stick shoes are substitutes.In the demand equation,the quantity of modern multiplex and price of sticky shoes are positively related.It means that when price of sticky shoes rise,the demand fpr modern multiplex rise.Therefore,they are substitutes.
U2. There are two movie theaters in the town of Harkinsville: Modern Multi plex, which shows...
Monopoly: Fantastic Films is the only movie theater in an isolated town. The table below illustrates the demand schedule for movie tickets and the cost schedule for producing the movies. Complete the table. Maximize your browser window to view all columns in the table. Price ($ per ticket) Quantity (tickets per show) Price ($ per ticket) Quantity (tickets per show) Total Revenue (dollars per show) Marginal Revenue Total Cost (dollars per show) Marginal Cost 20 0 1000 18 100 1600...
2. Breakdown of a cartel agreement Consider a town in which only two residents, Manuel and Poornima, own wells that produce water safe for drinking. Manuel and Poornima can pump and sell as much water as they want at no cost. For them, total revenue equals profit. The following table shows the town's demand schedule for water. Total Revenue Price Quantity Demanded (Dollars per gallon) (Gallons of water) (Dollars) 3.60 0 3.30 35 $115.50 3.00 70 $210.00 105 $283.50 2.70...