You Are the Manager of a Theatre

question 6

Essay

You are the manager of a theatre.At present the theatre charges the same admission price of $8 to all customers, regardless of age.You propose a two-tier pricing scheme: $5 for children under the age of 12 and $10 for adults.You tell your supervisor that your proposal is likely to increase revenues.What must be true about the price elasticity of demand if your proposal is to achieve its goal of raising revenue? Explain your answer.
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Identify and understand workforce diversity and its implications.

Recognize the characteristics of high-performing companies and their impact on competition and economy.

Understand the management of resources and goals for organizational performance.

Understand the different roles and responsibilities of managers and administrators within various organizational contexts.

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Definitions:

Tradable Fishing Limit

A regulatory method, similar to ITQs, allowing holders to buy, sell, or lease fishing quotas, aiming at sustainable fishery management by limiting the total catch.

Total Allowable Catch (TAC)

A fishery management tool that sets a limit on the amount of a particular fish species that can be caught over a specified time period.

Catch Size

The quantity of fish or any other marine species that is caught within a particular period.