When the Price of a Movie Ticket Increases from $5

question 52

Multiple Choice

When the price of a movie ticket increases from $5 to $7, the quantity of tickets demanded decreases from 600 to 400 a day. What is the price elasticity of demand for movie tickets?

• A) 0.83
• B) 1.20
• C) 2.32
• D) 1.00

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Definitions:

Stouffer's Study

A social research study by Samuel Stouffer that explored the attitudes and morale of American soldiers during World War II.

Allied Soldiers

Military personnel from countries allied together, often referring to those joined in common cause during major conflicts.

Nazism

The ideologies and practices associated with the National Socialist German Workers' Party, which included notions of racial hierarchy, nationalism, and the dictatorial rule of Adolf Hitler.

In-Group and Out-Group

Concepts in social psychology describing the groups with which an individual identifies (in-group) and those perceived as different or outside (out-group), affecting attitudes and behaviors.