High School

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A radio station is giving away tickets to a play. They plan to give away tickets for seats that cost $10 and $20.

To proceed, please provide the inequality for which you would like a graph or table created.

Answer :

Final answer:

The question involves graphing supply and demand for movie tickets, identifying equilibrium, and recalculating these based on the opening of nightclubs that decrease demand, and the removal of a tax that increases supply.

Explanation:

The inquiry relates to the graphing of supply and demand curves for movie tickets in a city, and examining the market equilibrium. Additionally, it involves recalculating and graphing to reflect changes in market conditions due to the opening of new nightclubs, which decreases movie ticket demand, and the removal of an entertainment tax, which increases the quantity supplied of movies. Graph demand and supply, identify the equilibrium price and quantity, then adjust the curves to show the effects of these two external changes. The changes imply that the intersecting point of supply and demand curves (equilibrium) would shift due to the external factors altering the market dynamics. A decrease in demand would shift the demand curve leftward, whereas an increase in supply would shift the supply curve rightward.

From a theoretical approach, the opportunity cost can be quickly determined by dividing the price of the goods on the axes; the slope defined by these prices provides an indication of the trade-offs between different goods in the market.

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