You Own a Small Town Movie Theatre

question 213

Essay

You own a small town movie theatre.You currently charge $5 per ticket for everyone who comes to your movies.Your friend who took an economics course in college tells you that there may be a way to increase your total revenue.Given the demand curves shown,answer the following questions.
a.What is your current total revenue for both groups
b.The elasticity of demand is more elastic in which market
c.Which market has the more inelastic demand
d.What is the elasticity of demand between the prices of $5 and $2 in the adult market
Is this elastic or inelastic
e.What is the elasticity of demand between $5 and $3 in the children's market
Is this elastic or inelastic
f.Given the graphs and what your friend knows about economics,he recommends you increase the price of adult tickets to $8 each and lower the price of a child's ticket to $3.How much could you increase total revenue if you take his advice

Understand the methods and importance of cognitive neuroscience in studying the brain's role in cognition.

Recognize various theories of intelligence and their implications.

Understand the basic principles of intellectual property law and its application to technology and creative works.

Identify the types of intellectual property protection available for different forms of creative and technological works.

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Definitions:

Radiopaque Substance

A substance that does not allow X-rays or similar radiation to pass through, appearing white or light on radiographic images, used in contrast-enhanced imaging.

Fluorescence

The emission of light by a substance that has absorbed light or other electromagnetic radiation, occurring in various natural and artificial processes.

Venography

An imaging technique used to visualize veins filled with an injectable contrast medium, often used to diagnose blood clots.

Thermography

A process of recording the heat patterns and temperatures of objects, often used in medical diagnosis and building inspections.