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.

Movie theaters typically don't let moviegoers bring food into theaters. But many moviegoers enjoy eating popcorn and sipping soda when watching their favorite movie. Considering these two facts, is the demand for popcorn at movie theaters price elastic or inelastic?

In terms of economics, does the quantity demanded for popcorn decrease more than 1% when the movie theater increases the price of popcorn by 1 %?