The Demand and Supply of Movie Tickets Are Given by Q^D

question 34

Multiple Choice

The demand and supply of movie tickets are given by Q^D = 30 - 3P and Q^S = 4P - 19, where P is the price per ticket and Q is in thousands of tickets. If the government places a $1 tax on each ticket, the prices that consumers pay with and without the tax are _____ and _____, respectively.

• A) $8; $7
• B) $7.57; $7
• C) $7.50; $6.50
• D) $4.30; $3.80

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