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Marginal RevenueThe graph shows the demand curve for movie tickets at Reels & Meals Movie Theatre, ...

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Marginal RevenueThe graph shows the demand curve for movie tickets at Reels & Meals Movie Theatre, ...

Marginal Revenue

The graph shows the demand curve for movie tickets at Reels & Meals Movie Theatre, which operates in a monopolistically competitive market.

Assume that P1=$13.75, P2=$18.50, Q1=120, and Q2=210. When the firm cuts price from $18.50 to $13.75, revenue ________ (increases/decreases) by ________ due to the output effect and revenue ________ (increases/decreases) by ________ due to the price effect.
Please round your final answer to two decimal places.

▸ increases, $1237.50, decreases, $570.00

▸ increases, $2887.50, increases, $2220.00

▸ decreases, $1237.50 increases, $570.00

▸ decreases, $2887.50, decreases, $2220.00

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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