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Home Q & A Board Other Fields Homework Help Business Economics
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hcraik2 hcraik2
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A year ago
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
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Macroeconomics

Macroeconomics


Edition: 3rd
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