Question
Build-A-Bear stores had massive lineups of customers due to a sale Do you think consumers have elastic or inelastic demand for Build-A-Bear? What is another
Build-A-Bear stores had massive lineups of customers due to a sale Do you think consumers have elastic or inelastic demand for Build-A-Bear? What is another example of a good or service with similar elasticity to Build-A-Bear? Would an economist likely advise Build-A-Bear to continue to offer lower prices, similar to these sales? Or would they advise them to raise prices and not offer sales? Explain details as much as you can.
Article link: https://www.cnn.com/2018/07/12/us/build-a-bear-lines/index.html?__s=szkkffabcezxfpdvxqju
Just make sure to use at least one-course concept from the chapters to explain:
For example:
1. Comparative Advantage, opportunity cost
2. Absolute advantage
3. Supply / demand
4. Equilibrium
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