Concession prices at movie theaters are a frequent topic of discussion between moviegoers. One typical example is the price of popcorn at movie theaters. To make this question more concrete, consider the price of a large bucket of popcorn at AMC theaters: $9.00. It is possible to purchase the same amount of popcorn at a supermarket chain for half the price: $4.50.

Outside the movie theater, there are many alternative places where popcorn can be purchased. Consider the price of popcorn at the supermarket chain, QFC. Suppose QFC would like to do the same thing as AMC theaters and charge $9.00 for popcorn. What would happen to the quantity demanded for popcorn at QFC?

Is the demand for popcorn at a supermarket price elastic or inelastic?