Children are often charged less than adults for admission to movies, theme parks, and professional sporting events. However, they are charged the same prices as adults at the concession stands. Which of the following best explains such pricing arrangements:
children have an elastic demand for admission but an inelastic demand for items at the concession stands
children have an inelastic demand for admission but an elastic demand for items at the concession stands
sellers can prevent adults from being admitted with a childs ticket but cannot prevent children from buying concession items for adults
children can personally use only a single ticket for admission, but can personally consume more than one concession item
1
Expert's answer
2014-12-03T11:14:03-0500
The fact, that children have an inelastic demand for admission but an elastic demand for items at the concession stands best explains such pricing arrangements: So, the right answer is b) children have an inelastic demand for admission but an elastic demand for items at the concession stands.
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