{"id":982,"date":"2017-10-20T21:13:51","date_gmt":"2017-10-20T15:13:51","guid":{"rendered":"https:\/\/mcqacademy.com\/en\/mcq\/the-management-of-local-cinema-has-statements-is-false\/"},"modified":"2017-10-20T21:13:51","modified_gmt":"2017-10-20T15:13:51","slug":"the-management-of-local-cinema-has-statements-is-false","status":"publish","type":"mcq","link":"https:\/\/mcqacademy.com\/en\/mcq\/the-management-of-local-cinema-has-statements-is-false\/","title":{"rendered":"The management of Local Cinema has &#8230;statements is false?"},"content":{"rendered":"<p>The management of Local Cinema has estimated the monthly demand for tickets to be lnQ = 22,328 &#8211; 0.41 lnP + 0.5 lnM &#8211; 0.33 lnA + 100 lnPvcr, where Q = quantity of tickets demanded, P = price per ticket, M = income, A = advertising outlay, and Pvcr = price of a VCR tape rental. It is known that P = $5.50, M = $9,000, A = $900, and Pvcr = $3.00. Based on the information given, which of the following statements is false?<\/p>\n","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","topic":[61],"subject":[5],"education_level":[],"class_list":["post-982","mcq","type-mcq","status-publish","hentry","topic-quantitative-demand-analysis","subject-managerial-economics"],"mcq_note":"The management of Local Cinema has estimated the monthly demand for tickets to be lnQ = 22,328 - 0.41 lnP + 0.5 lnM - 0.33 lnA + 100 lnPvcr, where Q = quantity of tickets demanded, P = price per ticket, M = income, A = advertising outlay, and Pvcr = price of a VCR tape rental. It is known that P = $5.50, M = $9,000, A = $900, and Pvcr = $3.00. Based on the information given, which of the following statements is false?Answer:Movies are complements for VCR tapes.","mcq_options":[{"right":"no","answer":"Advertising decreases the demand for movie tickets"},{"right":"no","answer":" Movies are normal goods"},{"right":"yes","answer":"Movies are complements for VCR tapes"},{"right":"no","answer":" The advertising elasticity of demand for movie tickets is -0.33"}],"multi_answers":"no","subject_terms":[{"id":5,"title":"Managerial Economics","slug":"managerial-economics"}],"topic_terms":[{"id":61,"title":"Quantitative Demand Analysis","slug":"quantitative-demand-analysis"}],"_links":{"self":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/mcq\/982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/mcq"}],"about":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/types\/mcq"}],"author":[{"embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/comments?post=982"}],"wp:attachment":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/media?parent=982"}],"wp:term":[{"taxonomy":"topic","embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/topic?post=982"},{"taxonomy":"subject","embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/subject?post=982"},{"taxonomy":"education_level","embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/education_level?post=982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}