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Back to Library QID: #7561

Solution for QID #7561: Suppose the price of movies seen at a theater rises from $6 | StudyHelpMe

Subject: Economics
Status: Verified Solution
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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