{"id":983,"date":"2017-10-20T17:36:49","date_gmt":"2017-10-20T11:36:49","guid":{"rendered":"https:\/\/mcqacademy.com\/en\/mcq\/the-management-of-local-cinema-has-for-movie-tickets\/"},"modified":"2017-10-20T17:36:49","modified_gmt":"2017-10-20T11:36:49","slug":"the-management-of-local-cinema-has-for-movie-tickets","status":"publish","type":"mcq","link":"https:\/\/mcqacademy.com\/en\/mcq\/the-management-of-local-cinema-has-for-movie-tickets\/","title":{"rendered":"The management of Local Cinema has&#8230;.for movie tickets"},"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. Determine the own-price elasticity of demand for movie tickets<\/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-983","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. Determine the own-price elasticity of demand for movie tickets\u00a0 -0.41.","mcq_options":[{"right":"no","answer":" -0.29"},{"right":"no","answer":"-0.32"},{"right":"no","answer":"-0.39 "},{"right":"yes","answer":" -0.41"}],"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\/983","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=983"}],"wp:attachment":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/media?parent=983"}],"wp:term":[{"taxonomy":"topic","embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/topic?post=983"},{"taxonomy":"subject","embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/subject?post=983"},{"taxonomy":"education_level","embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/education_level?post=983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}