A research firm's findings concluded that the demand for movie tickets is price elastic in the afternoon but inelastic in the evenings. Given this information, to increase overall revenue the theatre owners should
a. Reduce the ticket prices for the afternoon shows and reduce the ticket prices for the evening shows
b. Increase the ticket prices for the afternoon shows and reduce the ticket prices for the evening shows
c. Reduce the ticket prices for the afternoon shows and increase the ticket prices for the evening shows
d. Increase the ticket prices for the afternoon shows and increase the ticket prices for the evening shows
c
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A student wrote: "When the average product of labor exceeds the marginal product, the marginal product is increasing." If you were the instructor, how would you correct this statement?
What will be an ideal response?
The largest marital status category of black single parents in 1960 was "married-spouse absent."
Indicate whether the statement is true or false