Demand for movies to be elastic or inelastic

Assignment Help Business Economics

Reference no: EM13733477

1. If the price of gasoline doubled, how would consumption of (a) cars, (b) public transportation, and (c) in-theatre movies be affected? How quickly would these adjustments be made?

2. If you owned a movie theatre would you want the demand for movies to be elastic or inelastic?

3. Owner/operators of small gas stations rarely pay themselves an hourly wage. How does this practice affect the economic cost of dispensing gasoline?

4. Why don’t more U.S. firms move to Mexico to take advantage of low wages there? Would an identical plant in Mexico be as productive as its U.S. counterpart?

Reference no: EM13733477

Questions Cloud

Discuss some of the reasons why individuals routinely : Discuss some of the reasons why individuals routinely over-estimate the time for project activities. How is this behavior detrimental to the schedule and project?

Compounded semi-annually for the time the bond was held : An investor buys a 3% 20-year bond with a face value of $1000 for $1088. After receiving semi-annual dividend payments for 11 years, the investor decides to sell it. What would the sale price need to be to get an ROI of 4% per year compounded semi-an..

Couple operate a pet sitting service on the side : A couple operate a pet sitting service on the side. They want to add a daily service of a photo placed online for pet owners who are travelling. The required equipment is expected to cost $636 to purchase and $16 per month to operate. Revenues are ex..

Use the exchange rate to make the conversion : What is the ratio of Indian GDP to U.S. GDP if we don't take into account the differences in relative prices and simply use the exchange rate to make the conversion? What is the ratio of real GDP in India to real GDP in the US in common prices?

Demand for movies to be elastic or inelastic : If the price of gasoline doubled, how would consumption of (a) cars, (b) public transportation, and (c) in-theatre movies be affected? How quickly would these adjustments be made? If you owned a movie theatre would you want the demand for movies to b..

Explain why each of these especially important in defining : Describe each of the five items you have found. Explain why each of these is especially important in defining the era of the 1960s

Explain the origin of the human development index : Explain the origin of the Human Development Index. Explain the method of calculating Human Development Index.

Develop an action plan that will enable your to reach goal : Develop an action plan that will enable your to reach that goal. Which negotiation strategies worked well, which didn't? Why

Different types of procedures in litigation : What is the purpose of having different types of procedures (e.g. pleadings, motions, and discovery) in litigation? Are some procedures more important than others? Do all these procedures just create an atmosphere of gamesmanship in litigation? Do th..

User Account

All Pages