Cross-price elasticity of demand measures
a. elasticity of demand at the intersection of the supply and demand curves
b. elasticity of supply at the intersection of supply and demand curves
c. the relative elasticity of supply and demand at the intersection of the two curves
d. the relationship between the demand for one good and the price of another
e. the relationship between the demand for one good and the supply of another
D
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Scenic Cinemas surveyed its audience and found that while most movie goers prefer weekends, seniors visit on weekdays. How should the theatre respond?
a. Increase prices for the weekday shows, decrease the prices for the weekend shows b. Decrease both the weekday and weekend ticket prices c. Decrease prices for the weekday shows, increase prices on the weekends d. Increase both the weekday and weekend prices
Governments establish the laws that regulate the interaction between businesses and households but do not serve as actors in the economy themselves.
Answer the following statement true (T) or false (F)