FIGURE 3-3

-Refer to Figure 3-3.Everyone has been raving about the newest summer blockbuster film.You decide to see a movie even though ticket prices have risen to $10 per ticket.You are not alone,as many students are waiting in line at the theatre,shifting the demand curve to D₁.How many tickets are the theatre owners now selling?

Question

FIGURE 3-3
 
-Refer to Figure 3-3.Everyone has been raving about the newest summer blockbuster film.You decide to see a movie even though ticket prices have risen to $10 per ticket.You are not alone,as many students are waiting in line at the theatre,shifting the demand curve to D₁.How many tickets are the theatre owners now selling?

Quizplus · Accepted Answer

The shift in the demand curve to D₁ indicates an increase in demand. The new equilibrium quantity where the demand curve D₁ intersects the supply curve is at Q₂ tickets.

FIGURE 3-3 -Refer to Figure 3-3.Everyone Has Been Raving About the Newest