Why would the theater charge the same price

Assignment Help Microeconomics
Reference no: EM131020685

Suppose that Amazing Spider-Man 2 comes out, and hundreds of people arrive at a theater and discover that the movie is already sold out. Meanwhile, the theater is also showing a boring movie in its third week of release in a mostly empty theater. Why would the theater charge the same price of $7.50 for a ticket to either movie, when the quantity of tickets demanded is much greater than the quantity supplied for one movie, and the quantity of tickets demanded is much less than the quantity supplied for the other?

Reference no: EM131020685

Questions Cloud

Which year had the greatest number of stray cats : Which year had the greatest number of stray cats? Between which two years did the greatest increase in the number of stray cats occur?
Three benefits attributed to integrated delivery systems : Briefly describe the following healthcare service settings and offer your thoughts on which will have the most impact on our national economy in the next five years. Identify the top three benefits attributed to integrated delivery systems.
Purchased a zero coupon bond one year : You purchased a zero coupon bond one year ago for $173.85. The market interest rate is now 9 percent. If the bond had 20 years to maturity when you originally purchased it, what was your total return for the past year? Assume semiannual compounding. ..
Gathering data for creating pay policies : In gathering data for creating pay policies, the product markets that city hospital would use will include public sector, private sector and geographical labor markets. Labor markets that could be relevant would include health labor market or heal..
Why would the theater charge the same price : Why would the theater charge the same price of $7.50 for a ticket to either movie, when the quantity of tickets demanded is much greater than the quantity supplied for one movie, and the quantity of tickets demanded is much less than the quantity ..
Logistics management systems : Explain how a major organization (e.g., Wal-Mart, Coca-Cola, etc.) utilizes the supply chain or logistics management systems to get its products to markets.
Explaining why this conflicting situation might occur : Explain why this conflicting situation might occur and what conclusions the analyst should accept, indicating the shortcomings and the advantages of each method. Assuming the data is correct, which method will most likely provide the most accurat..
Bloomfree is an organic floral shop : Indicate whether each line on the trial balance is an income statement or balance sheet account.
How about life insurance : Statistics indicate that the odds of needing more than a year of nursing home care before you reach age 65 are 1 in 33 and the expense of a prolonged nursing home stay can cause severe financial hardships. There is even a greater chance of the need f..

Reviews

Write a Review

Microeconomics Questions & Answers

  What is the difference of the total interest paid

Arian is about to borrow $2,000 from his uncle. He has an option to repay the loan at the end of year 4 with 5.43% simple interest per year or with 8.99% interest per year, compounded every 5 months. What is the difference of the total interest paid ..

  Where is avc when ap is at its maximum

Where is Avc when Ap is at its maximum? what happens to Avc after this point

  Equilibrium conditions for his optimal allocation of time

Suppose a student has no more than t minutes to write an examination consisting of two questions, 1 and 2. He receives A points if he gets question 1 correct and B points if he gets question 2 correct. He knows that if he spends s minutes in question..

  What is the economic market for physicians

what is the economic market for physicians in terms of supply and demand, elasticity, costs of production, pricing, and economic or normal profit or loss?

  Country x assigns 40 of its labor to vegetables while

country x can produce either 30 tons of vegetables or 30 tons of chicken. country y can produce either 20 tons of

  Answer based upon your knowledge of economics and class

answer based upon your knowledge of economics and class notes on differenes in wages and discrimination make and wage

  Draw a supply and demand graph

Identify the impact of the policy on demand or supply of the good(s) or service(s). Discuss the change(s) and draw a supply and demand graph

  Consider the given probabilities

1. Consider the given probabilities: P(A) = 0.25, P(B|A) = 0.34, P(C|A∩B) = 0.62. Fill in the blanks. P(A∩B) =    (Give your answer to three decimal places.) P(B'|A) =   (Give your answer to two decimal places.)

  Legal and ethical responsibilities do companies have

What legal and ethical responsibilities do companies have to their customers?

  Cash flows of two mutually exclusive projects

Cash flows of two mutually exclusive projects are as follows. Project A costs $80,000 initially and will have a $15,000 salvage value after 3 years. The operating cost with this method will be $30,000 per year.

  What is the present value of the net tax-shield

Q.1 What is the present value of the net tax-shield of debt if the current market value of the firm is $10 million, its value if unlevered would be $8 million, and the present value of bankruptcy and agency costs is $500,000?

  Find the minimum total delta-v and the time of flight

Two geocentric elliptical orbits have common apse lines and their perigees are on the same side of the earth. The first orbit has a perigee radius of rp ¼ 7000 km and e ¼ 0.3, whereas for the second orbit rp ¼ 32,000 km and e ¼ 0.5. Find the m..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd