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The appearance of television reduced the elasticity of demand for movies by providing consumers with an alternative source of entertainment at home, thus making them less sensitive to changes in movie ticket prices. As television became more popular, it shifted consumer preferences, leading to a decrease in the frequency of movie-going. However, for certain segments of the market, such as families or specific Demographics, the demand for movies became more inelastic, as they continued to value the unique experience of cinema over home viewing. Overall, television introduced competition that influenced consumer behavior and price sensitivity in the movie industry.
What else can I help you with?
How can brand loyalty affect elasticity of demand?
Demand, perceived value, overall reputation
Which factor does not affect the elasticity of demand for a good?
An increase in population
What factor does not affect the elasticity of demand for a good?
Increase in the population.
3 Why is it difficult to judge the price elasticity of demand if you are merely observing the appearance of a demand curve on a graph?
Because elasticity is changes depending on the price it is evaluated at. This will then mean that elasticity is different at different point on a demand curve. It can also depend on the scale the demand curve is drawn to
What are the types of elastricity of demand?
Oh, dude, there are like three types of elasticity of demand. You've got price elasticity of demand, income elasticity of demand, and cross elasticity of demand. Price elasticity is all about how price changes affect quantity demanded, income elasticity looks at how changes in income impact demand, and cross elasticity measures how the demand for one good changes in response to a change in the price of another good. So, yeah, those are the types, but like, who really needs to know all that, right?
How can brand loyalty affect elasticity of demand?
Demand, perceived value, overall reputation
Which factor does not affect the elasticity of demand for a good?
An increase in population
What factor does not affect the elasticity of demand for a good?
Increase in the population.
3 Why is it difficult to judge the price elasticity of demand if you are merely observing the appearance of a demand curve on a graph?
Because elasticity is changes depending on the price it is evaluated at. This will then mean that elasticity is different at different point on a demand curve. It can also depend on the scale the demand curve is drawn to
Significance of elasticity of demand?
Elasticity of demand will help managers determine what behaviors affect customer's buying behavior. Price elasticity will tell managers whether they can change the price of products or not.
What are the types of elastricity of demand?
Oh, dude, there are like three types of elasticity of demand. You've got price elasticity of demand, income elasticity of demand, and cross elasticity of demand. Price elasticity is all about how price changes affect quantity demanded, income elasticity looks at how changes in income impact demand, and cross elasticity measures how the demand for one good changes in response to a change in the price of another good. So, yeah, those are the types, but like, who really needs to know all that, right?
How the elasticity of demand affect managerial decisions?
Elasticity of demand affects managerial decisions because the demand of a product changes with the wrong business decision. Managers must be careful about what they choose to do with their products.
What factors affect elastic of demand?
There are plenty of factors affecting elasticity of demand including climate of the area. Other factors that effect elasticity of demand include supply and group of people buying.
How does substitutes affect elasticity?
Because elasticity means when the demand is changing. a subsitute consumer in choice of theory. the substiture affects elasticity is it changes over time. substitute is choice and elasticity is demand. put those together and you have a fair deal with your money.
How substitutes affect elasticity?
Because elasticity means when the demand is changing. a subsitute consumer in choice of theory. the substiture affects elasticity is it changes over time. substitute is choice and elasticity is demand. put those together and you have a fair deal with your money.
What are the 3 types of elasticity?
1)price elasticity of demand 2)income elasticity of demand 3)cross elasticity of demand
If the elasticity of demand is equal to one then the demand is?
Unitary elasticity is when the price elasticity of demand is exactly equal to one.
