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20 votes
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the entertainment section of the local magazine needs to know the number of movies showing daily in nearby theaters this box and whisker plots shows the resultsmovies shown daily at theaters

the entertainment section of the local magazine needs to know the number of movies-example-1
User Amitabha Roy
by
3.1k points

2 Answers

13 votes
13 votes

Final answer:

The opening of new nightclubs leads to a decrease in demand for movie tickets while the removal of a tax on entertainment businesses increases the supply of movie tickets. These changes will affect the market equilibrium, likely causing the equilibrium price to fall. The effect on equilibrium quantity depends on the relative shifts in demand and supply curves.

Step-by-step explanation:

When analyzing the effects of external factors on the supply and demand for movie tickets, we can see that both changes will affect the market equilibrium. In scenario a, the opening of three new nightclubs, which do not charge a cover fee and make money through sales of food and drink, creates an alternative entertainment option for consumers. As a result, there is a decrease in the demand for movies, demonstrated by a leftward shift in the demand curve, meaning at every price level, six fewer movie tickets will be demanded.

In scenario b, the removal of a tax on local entertainment businesses, including movie theaters, increases the quantity supplied of movie tickets. This situation can be graphically represented by a rightward shift in the supply curve by 10%, because at every price level, more movie tickets will be offered for sale.

Effects on Market Equilibrium

The equilibrium price and quantity in the movie ticket market will be affected by these shifts. With a decreased demand and increased supply, we can expect the equilibrium price to decrease, while the equilibrium quantity might either increase or decrease, depending on the relative magnitudes of the shifts in supply and demand curves.

User MehranTM
by
2.9k points
22 votes
22 votes

SOLUTION

We want to find the interquartile range of the box and whisker plot in the picture.

Interquartile range is calculated as


Q3-Q1

In the box and whisker plot


\begin{gathered} Q1=16 \\ Q3=22 \\ Q3-Q1=22-16=6 \end{gathered}

Hence the answer is 6

User Malballah
by
3.0k points
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