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1 1 point There is one movie theater in the town of Smallville. The theater's demand and cost curves are shown in the graph displayed. The manager of the theater is trying to determine how to set ticket prices. A) Using the labeling on the graph, identify the price and quantity associated with each of the following objectives. 1) The theater maximizes profits 2) The theater maximizes total revenue. 3) The theater maximizes the sum of consumer and producer surplus. 4) The theater maximizes attendance, as long as it breaks even. B) When the attendance is Q1, it the demand price elastic, inelastic, or unit elastic? Explain. C) Assume the price is set at P2. Assuming the existence of an opportunity cost, indicate whether the theater's accounting profits would be positive, negative, or zero. Explain why. Marginal Cost JJJ PRICE/COST Average Total Cost Demand 27 ATTENDANCE Marginal Revenue 7:35. PM 3/17/2021 O 9 X pe here to search