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Price S1 $1,200 ,097.50 $995 $796.25 $497.50 D1 400 700 1,000 1,500 Premium seats a week

Price S1 $1,200 ,097.50 $995 $796.25 $497.50 D1 400 700 1,000 1,500 Premium seats a week

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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If the theater starts to charge $796.25 for these seats, the theater will sell (a)     premium seats a week. Scalpers will charge (b)    , which is (c)     more than the price listed at the theater’s box office (give your answers to two decimals).

Price S1 $1,200 1,097.50 $995 $796.25 $497.50 Premium seats a week 400 700 1,000 1,500
Transcribed Image Text:Price S1 $1,200 1,097.50 $995 $796.25 $497.50 Premium seats a week 400 700 1,000 1,500
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Supply curve shows quantity supplied at different prices and demand curve shows quantity demanded at different prices.

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