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The demand curve at any stadium is relatively inelastic because no matter what the price of food at concession stands are, consumers are more than
The demand curve at any stadium is relatively inelastic because no matter what the price of food at concession stands are, consumers are more than likely going to purchase them anyway. Fans at stadiums are more likely to purchase refreshments because of the amount of time they are spending at the game. It is more likely they will become hungry or thirsty so price might affect how much they purchase but will not stop them. I'm sure if other markets participate in price drops, we will see an increase in the purchase of compliments. These markets include restaurants, grocery stores, movie theaters, etc. Not everyone will purchase refreshments at the movie theater because of their outrageous prices but if they decrease the price of snacks and tickets, they will more than likely purchase both. Another example of outrageous prices includes restaurant beverages. It is almost certainly that customers will not buy a soda for almost 4$ while dining out when they can buy them cheaper somewhere else. In order to ensure that they buy a beverage with their meal, they should lower the price
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