AP Microeconomics Quiz
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IMPERFECT COMPETITION
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A movie theater is a local monopolist. It sells the same movie ticket to seniors and to adults, and it checks IDs to prevent resale. Demand for seniors is relatively more price elastic than demand for adults. The theater sets a senior ticket price of $8 and an adult ticket price of $14. Based on the monopolist's pricing strategy, which group is charged the higher price and why?
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