Letâs assume that the demand for a given product can be represented by the equation, price = 100 - .5(quantity). If the current price is 10 dollars and the quantity demanded is 180, then a two dollar increase in the price reduces the quantity demanded by four units.
| AP. It's finally time for Hollywood's big night. The 2013 Oscars begin tonight at 8:30 p.m. Eastern Time (5:30 p.m. Pacific Time) at the Dolby Theatre in Los Angeles, California. It's the 85th annual Academy Awards and you can watch live on ABC. The show itself will be preceded by Red Carpet arrivals, beginning at 7 p.m. ET.
In the mid-40s, the Oscars were held in Graumanâs Chinese Theater, which is adjacent to what is now the Hollywood & Highland mall. In 1949, the 21st awards were held in a theater owned by the Academy on Melrose Ave. It then moved to what was called the RKO Pantages Theater in Hollywood for 11 years. That was where the Oscars were held on March 19, 1953, the first year it became a television event as well.