A 2014 report from the Motion Picture Association of America said that revenue rose to $10.9 billion
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A 2014 report from the Motion Picture Association of America said that revenue rose to $10.9 billion in 2013 from $10.8 billion in 2012 even though the number of tickets sold fell from 1.36 billion to 1.34 billion. The reason that revenue increased was that the average U.S. movie ticket price rose from $7.96 in 2012 to $8.13 in 2013. Assuming that the demand curve remained stable, use a diagram to show why revenue rose. Label the dollar values of the various areas on the diagram appropriately.
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