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Instructions The Ruby Red Movie Theater in town is in jeopardy of having to close its doors because it is unable to generate enough total revenue. In an effort to generate more revenue, the movie thea
Instructions The Ruby Red Movie Theater in town is in jeopardy of having to close its doors because it is unable to generate enough total revenue. In an effort to generate more revenue, the movie theater manager decided to change the prices this month for drinks, popcorn, candy, hot dogs, and movie tickets. The manager would like for you to analyze the data that has been collected to help decide if the decisions to change the prices were correct or, if not, what should be done to prices to generate more total revenue. Access the Unit III Assignment Worksheet in Blackboard. Open the Unit III Assignment Worksheet and complete it, making sure to answer all of the questions on all of the pages. Once you have completed the worksheet, upload it via SafeAssign. APA Style will not be required for this assignment.
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Briefly explain *** ** *** *** belowAnswer ************ ****** is inelastic ******* *** ***** elasticity ** ****** is **** than ******************************* ** **** ********* Calculate *** ***** ********** ** demand for ***** popcorn (Show **** work)Small Popcorn$500$5254539 =39-45=-6=525-5=025=(6/39)(025/525)=-32307 Is *** ***** ********** ** ****** for ***** ******* ***** ******* inelastic or **** (unitary)? ******* ******* *** ** *** box *********** **** demand *** ***** ******* ** ******* since *** ***** elasticity of ****** is ******* **** ********************************* ** **** ******* ********* *** ***** elasticity of ****** *** candy ***** **** ****************************************************************** *** ***** ********** of demand for candy price elastic ********* ** **** (unitary)? ******* ******* why ** the *** belowAnswer **** price ********** ** ****** *** ***** ** ******* as ** is ******* than 1 Continue ** next page G Calculate *** price ********** of ****** *** hot **** (Show **** ********************************************************************** the price elasticity ** demand *** *** **** ***** ******* ********* ** **** (unitary)? Briefly ******* *** ** the *** *********** **** ***** ********** ** ****** for *** **** ** inelastic as ** ** **** **** *********************************** ** **** ******* Calculate *** ***** ********** ** demand *** ***** tickets ***** **** work)The price elasticity of ****** for movie ******* ** elastic as it ** greater **** 1Movie ******************************************************************* the ***** ********** ** ****** for ***** tickets ***** ******* inelastic ** **** (unitary)? ******* ******* why ** *** *** belowAnswer =The ***** ********** ** ****** for ***** tickets ** ******* ** it ** greater **** ******************************* ** next ************** * ***** ** *** relationship ******* ***** ********** ** demand *** ***** ******** ******** ******* *** individual ***** ******* the manager **** were correct ** *** ******** **** Red Movie Theater ***** ** increase ***** ******** *** *** ******** ** decrease *** price ** ***** drinks appropriate ** increase ***** ********* *** or *** not? Briefly explain ** *** *** *********** ************** since ** ** ********* to price The ***** ******* would *********************** *** the decision ** ******** the ***** ** ***** ******* *********** ** increase total revenues? Why or why not? Briefly explain ** *** *** *********** ************** ***** ** is ********* ** ***** *** ***** ******* would ***************** ********* ** popcorn **** * *** **** To *** ** ******* way ******* *** price ** a product ******* ** * ******** ** sales The ***** ********** of ****** ** *** ***** ***** **** demand ** ******* There ** a **** chance **** ***** rises **** lead ** a ******** ** revenue C *** the decision ** ******** the ***** ** ***** ****** appropriate ** ******** ***** ********* *** ** *** not? Briefly ******* in the *** belowAnswer ************** since ** ** ********* ** price The ***** ******* ***** decrease Instead of ******** earnings *** primary ******* ** ******* *** price ** large ********* *** ** ********* ********* ** *** ********** products **** *** ************* **** focusing on ***** ******** ** make ** for *** decline ** sales ** ***** ****** *** **** ******* to *** ***** ******** possible D Was the ******** ** ******** the ***** ** ***** ******* *********** ** ******** ***** ********* *** or *** not? ******* ******* ** *** box *********** ************** ***** it ** ********* to ***** The ***** ******* ***** decrease E *** the ******** to ******** *** ***** ** ***** appropriate to ******** ***** revenues? *** ** *** not? Briefly ******* ** *** *** belowAnswer =Appropriate ***** ** ** ********* ** ***** *** ***** revenue ***** ** up F *** *** decision ** ******** *** ***** of hot **** *********** to ******** ***** ********* Why ** *** **** ******* explain ** the box belowAnswer ************ Increasing *** ***** of * *** *** **** **** no ****** on ****** ***** ****** ** ********* ** ***** *** ******** ** ***** *** ***** ** hot dogs is ********* ***** *** ****** ****** *** **** ******* *** rising ******** *** the decision ** ******** *** ***** ** ***** ******* appropriate ** ******** ***** ********* *** or why not? Briefly ******* in *** *** *********** ********** **** ** ***** ******* ** *** *********** **** due ** ***** **** ***** ********** *** *** ********* ******** ****** ** ******* income It's * product **** * lot ** ******* slack It would ******* **** ** ******* ****** ** *** ******* *********************
