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13 November, 17:07

The price of movie tickets in a town has risen from $7 to $9. what is the most likely effect of the change in price?

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  1. 13 November, 17:29
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    I believe the answer is: The quantity demand for movie tickets will decrease

    As the price of a certain product increase, the number of consumers that can and willing to afford it would be reduced. Some of the consumers would probably think that the increase in the price is not worth the value that they receive, which cause the decrease of quantity of the product demand.
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