question archive Suppose the price of movies seen at a theater rises from $6 to $12
Suppose the price of movies seen at a theater rises from $6 to $12
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Suppose the price of movies seen at a theater rises from $6 to $12. The theater manager observes that the rise in price causes attendance at a given movie to fall from 150 persons to 100 persons. What is the arc price elasticity of demand for movies?
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