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Quantity in market for theater movie tickets

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Question

Consider the market for theater movie tickets. Say that the number of movie theaters has increased, and the price of a Netflix subscription has decreased. Which event affects demand, and which affects supply? What would be the effect on equilibrium price and quantity in the market for theater movie tickets? Is the effect on either price or quantity indeterminate? Sketch a graph and explain.

Reference no: EM133392559

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