Suppose the Demand Curve for Movie Tickets Has Unitary Price

question 5

Multiple Choice

Suppose the demand curve for movie tickets has unitary price elasticity and the supply curve is perfectly price elastic.If 3 million tickets are currently sold at a price of $5,approximately how much tax revenue could the government generate from a $1 specific tax?

• A) $18 million
• B) $3 million
• C) $2.7 million
• D) $1.5 million

Analyze the implications of globalization on workforce diversity and organizational strategy.

Understand the steps and key components of the innovation process.

Recognize the importance of organizational culture and how it influences innovation and organizational behavior.

Identify the role of creativity and risk tolerance in fostering an innovative organization.

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Definitions:

Tubular Reabsorption

Movement of materials, by means of diffusion, active transport, or symport, from the filtrate within a nephron to the blood.

Tubular Secretion

A process in the nephrons of the kidneys where substances are added to the tubular fluid for excretion, helping to regulate blood pH and remove toxins.

Urine Volume

The total amount of urine excreted by the kidneys over a given period, important in assessing kidney function and fluid balance.

Medullary Concentration Gradient

A gradient responsible for the osmoregulation in the kidneys, allowing for the concentration or dilution of urine.