Mathematics, 07.07.2019 14:30 brisacruz013

Marketing chapter 3 test questions 1. a movie theater charges $5 per ticket and averages 300 customers each night. if prices are raised to $7 per ticket, the theater estimates that average nightly ticket sales will be $1,750. what is the percentage change in the average number of customers the theater has each night? (express your answer in whole numbers; round decimals up or down). answer is 0.172. a movie theater charges $5 per ticket and averages 300 customers each night. if prices are raised to $7 per ticket, the theater estimates that average nightly ticket sales will be $1,750. what is the percentage change in ticket prices? answer is 0.40 3. a movie theater charges $5 per ticket and averages 300 customers each night. if prices are raised to $7 per ticket, the theater estimates that average nightly ticket sales will be $1,750. what is the elasticity of demand in this situation? (hint: elasticity of demand is determined by calculating the ratio of the percentage change in the quantity demanded over the percentage change in price.)answer is 0.425 4. study the following data for a product: price amount produced amount demanded $200 100,000 7,000 $100 80,000 35,000 $75 45,000 45,000 $50 30,000 70,000 $20 15,000 90,000 find the market price. answer is $75

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Marketing chapter 3 test questions 1. a movie theater charges $5 per ticket and averages 300 custome...

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