The Management of Local Cinema Has Estimated the Monthly Demand

question 10

Multiple Choice

The management of Local Cinema has estimated the monthly demand for tickets to be ln Q = 22,328 − 0.41 ln P + 0.5 ln M − 0.33 ln A + 100 ln P_DVD,where Q = quantity of tickets demanded,P = price per ticket,M = income,A = advertising outlay,and P_DVD = price of a DVD rental.It is known that P = $5.50,M = $9,000,A = $900,and P_DVD = $3.00.Determine the own price elasticity of demand for movie tickets.

• A) −0.29
• B) −0.32
• C) −0.39
• D) −0.41

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Definitions:

Premenstrual Syndrome

A condition that affects emotional, physical, and behavioral aspects in women, usually occurring before the menstrual cycle begins.

Dysmenorrhea

Painful menstruation, characterized by cramping abdominal pain during menstruation.

Dysmenorrhea

Represents the medical condition characterized by severe and painful menstrual cramps, which can affect a woman's quality of life.

Painful Menstruation

Discomfort and pain experienced during the menstrual cycle, clinically known as dysmenorrhea.