The Price Elasticity of Demand for Movies Is Approximately 1

question 108

Multiple Choice

The price elasticity of demand for movies is approximately 1 and 500,000 tickets are sold per day. If the average price of a movie ticket increases by 20 percent, the number of tickets sold each day decreases to

• A) 400,000.
• B) 300,000.
• C) 420,000.
• D) 475,000.

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Definitions:

Rh Antigen

A protein found on the surface of red blood cells that can play a critical role in blood transfusion compatibility.

Universal Donor

A term referring to individuals with O negative blood type, indicating they can donate blood to people of all other blood types due to the lack of A, B, and Rh antigens in their red blood cells.

Donor Blood

Blood collected from a healthy individual used for transfusion to a recipient in need.

Antigen B

A specific marker, usually a protein, on the surface of certain blood cells, critical in determining blood type.