Jurassic World had world-wide box office receipts of $1.66 billion. The movie’s production budget was $150 million with additional marketing costs. A successful movie brings pleasure to millions, creates work for thousands, and makes a few people rich.

1. Explain if the movie Jurassic World had to cope with scarcity? (1 point)
2. Explain who decides whether a movie is going to be a blockbuster? (1 points)
3. Explain how the creation of a blockbuster movie influences what, how, and for whom goods and services are produced? (2 points)
4. What are some of the components of marginal cost and marginal benefit that the producer of a movie faces? (1 points)

Here’a the sample of the discussion:

Why does scarcity lead to the what, how, and for whom questions?

Human wants exceed the resources available to satisfy them, thereby creating the problem of scarcity of goods and services. Everyone wants more than he or she can have, be it a student dreaming of a faster computer or an extraordinarily rich business leader wishing for more vacation time. Because not all wants can be satisfied, people must make choices about which wants to satisfy. The choices resulting from scarcity mean that people must decide what gets produced, how are the products produced, and for whom are the products produced.

Only use the textbook to answer the question. At the end of each question I need the references such as book edition, chapter #, and page #.

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