Does Adam Smith's idea of the "invisible hand" apply to the funeral industry? After all, all families have need of the funeral industry. Does the "invisible hand" help the industry maintain moral standards, or does it just help regulate prices? Should we have a "laissez faire" approach to the funeral industry, or should it have more regulations to prevent businesses from taking advantage of people when those people are the most vulnerable?

Suppose a movie theater determines it can charge different prices to patrons who go to weekday matinees and people who attend evening and weekend shows . the movie theater's goal is to increase total revenue. the price elasticity of demand for weekend and evening patrons is -0.40, and the price elasticity of demand for matinee moviegoers is -1.90. based on the price elasticity of demand for each group of people, how should the movie theater adjust its prices?