A Movie Complex Experiences Its Peak Ticket Sales in the Early

question 59

Multiple Choice

A movie complex experiences its peak ticket sales in the early evening when several movies have about the same start times. The ticket booth can process customers buying tickets at a maximum rate of 45 seconds each (or 80 tickets sold per hour) . You arrive to buy your ticket and count 16 people in line ahead of you. How long can you expect to wait in line before getting to the booth to buy your ticket?

• A) less than or equal to 5 minutes
• B) greater than 5 but less than or equal to 10 minutes
• C) greater than 10 but less than or equal to 15 minutes
• D) greater than 15 minutes

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Definitions:

Equity

Refers to the ownership interest in a corporation in the form of common or preferred stock; it represents the owners' share in the company's assets.

Fairness

A subjective concept referring to equal and impartial treatment, decisions, and actions in context with ethical, societal, or personal standards and norms.

Normative Economics

An approach to economics that makes judgments about what the economy should be like or what particular policy actions should be recommended.

Behavior

The actions or reactions of an individual, group, or system in response to external or internal stimuli.