6. Given below is the original demand and supply curves for movies which are D, and S, and the markets in equilibrium at price P, and output Q₁. For each of the following events, draw an appropriate new supply or demand curve for movies as affected by each factor mentioned below So P。 Do

6. Given below is the original demand and supply curves for movies which are D, and S, and the markets in equilibrium at price P, and output Q₁. For each of the following events, draw an appropriate new supply or demand curve for movies as affected by each factor mentioned below So P。 Do

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 5CQQ: An increase in the supply of a good will decrease the total revenue producers receive if a. the...

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Question

6. Given below is the original demand and supply curves for movies which
are D, and S, and the markets in equilibrium at price P, and output Qo.
For each of the following events, draw an appropriate new supply or
demand curve for movies as affected by each factor mentioned below
So
P。
Do

c. Cable television begins offering pay-per-view movies.
d. Tax impose on movies is increased by 20%.

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