Refer to Scenario 3.1 below to answer the question(s) that follow.
SCENARIO 3.1
-Streaming movies and movies shown in theaters are substitutes.
-Streaming movies and OLED TVs are complements.
-OLED TVs and movies shown in theaters are normal goods.
-People watch streaming movies more often in the winter than in the summer.
-Refer to Scenario 3.1. To raise additional revenues, the government imposes an entertainment tax on movie tickets, but there are no new additional taxes levied on streaming movies. This would lead to
A) an increase in the price of movie tickets, but no change in the price of streaming movies.
B) an increase in the price of movie tickets and the price of streaming movies.
C) an increase in the price of a movie ticket and a decrease in the price of streaming movies.
D) no change in the price of a movie ticket and an increase in the price of streaming movies.
Correct Answer:
Verified
Q80: Refer to the information provided in Figure
Q81: Income _ along the demand curve.
A) increases
B)
Q82: Refer to Scenario 3.1 below to answer
Q83: Refer to the information provided in Figure
Q84: Which of the following will not cause
Q86: Refer to Scenario 3.1 below to answer
Q87: If the demand for macaroni and cheese
Q88: Related to the Economics in Practice on
Q89: According to the law of demand, quantity
Q90: According to the law of demand, quantity
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