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.
(There have also been years â 1948, 1969-â71 and 1989 â when there was no host at all.) Hereâs a look back at some memorable hosts and hosting incidents from Oscars past. Oscar host Bob Hope, right, jokingly tries to steal Marlon Brando's award during the 1955 ceremony. ((Hulton Archive/Getty Images))