Quantity Demanded (Tick… Show more Consider the following

Quantity Demanded (Tick… Show more Consider the following demand schedule for movie tickets Price Quantity Demanded (Ticket per day) 9 100 8 200 7 300 Suppose the price of a movie ticket falls from $9 to $7. a. Calculate the price elasticity of demand for movie tickets: b. Is demand for movie tickets elastic or inelastic? c. What is the change in the total revenue from the sale of movie tickets • Show less

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