Asked by Apple joy!!! on Jun 12, 2024
Verified
Movie theatres offer seniors discounts because
A) Seniors have a more inelastic demand for movie tickets
B) Seniors have a more elastic demand for movie tickets
C) Seniors have a higher opportunity cost of their time
D) Only B&C
Inelastic Demand
A market situation where the demand for a product does not significantly change with a change in price.
Elastic Demand
A market condition where the demand for a product or service significantly changes in response to price changes.
Opportunity Cost
The cost of a missed opportunity; the value of the best alternative forgone.
- Acquire knowledge about the incentives for presenting discounts to targeted segments like students and senior citizens.
Verified Answer
EK
Emmet Keeffe IVJun 19, 2024
Final Answer :
B
Explanation :
Seniors typically have a more elastic demand for movie tickets, meaning their demand is more sensitive to price changes. They are more likely to increase their consumption of movie tickets if prices are lower, hence the discounts. Seniors often have more free time and a fixed income, making them more price-sensitive.
Learning Objectives
- Acquire knowledge about the incentives for presenting discounts to targeted segments like students and senior citizens.