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Ren loves to go to the movie theater, and he just learned that he can buy a ticket at a discounted price using his student ID. Ren now sees movies at the theater even more frequently. Which of the following factors of demand caused the change in Ren's behavior?
Frank Knight
An influential economist known for his work on risk, uncertainty, and the role of entrepreneurship in economic theory.
Joseph Schumpeter
An Austrian economist and political scientist known for his theories on business cycles and innovation. He introduced the concept of creative destruction, which describes how old industries are destroyed and replaced by new ones.
Karl Marx
A 19th-century philosopher, economist, and political theorist known for his critical theories about capitalism and advocacy for socialism.
Marginal Revenue Product
The Marginal Revenue Product indicates the additional revenue generated from employing one more unit of a resource, such as labor or capital.
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