https://www.espn.com/nfl/story/_/id/22212592/atlanta-falcons-drop-prices-make-more-money-mercedes-benz-stadium-concessions

After reading the article think about all the different factors that determine the price elasticity of goods. Also, consider the relationship between changes in price and revenue depending on where you are on the demand curve. Keeping these factors in mind post your thoughts on the following:

1. In general, do you think the demand curve for food and beverages at ANY stadium is relatively elastic or relative inelastic? Justify your opinion using the determinants of price elasticity discussed in the module.
2. Judging by the outcome of the price drop (lower price leading to greater revenue), we clearly see that Mercedes Benz Stadium was pricing their food and beverages in the elastic portion of the demand curve. What other industries/markets do you think would see a gain in revenues if they were to lower their prices and what sort of cross-price elasticities could we see as a result (substitutions or compliments)?