This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Some baseball parks have a 7th Inning Stretch where beer, hotdogs and other food items are offered ... (Read 114 times)

ap345

  • Hero Member
  • *****
  • Posts: 537
on: Jun 29, 2018
Some baseball parks have a 7th Inning Stretch where beer, hotdogs and other food items are offered for sale at a lower price.
 
  What economic concept is being used by the baseball park to justify this practice? If it is successful at selling more food and drink with this practice why don't they lower prices at the beginning of the game?

Question 2

The recession of 2007-2009 began in ________, with the end of the economic expansion that had begun in ________.
 
  A) July 2007; August 2006 B) January 2007; April 1984
  C) December 2007; November 2001 D) March 2007; March 1995


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

macagn

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jun 29, 2018
Answer to Question 1

The economic concept is the law of diminishing marginal utility. By the 7th inning most of the patrons have already had a bite to eat and something to drink. As they become close to satiated they are deriving less and less marginal utility. Therefore, their willingness to pay to consume more of these items falls.

Answer to Question 2

C


ap345

  • Hero Member
  • *****
  • Posts: 537
Reply #2 on: Jun 29, 2018
Correct answers!


macagn

  • Sr. Member
  • ****
  • Posts: 345
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

This moose exploits the twigs and buds of woody plants for the food it needs to survive a cold north This moose exploits the twigs and buds of woody plants for the food it needs to survive a cold north
Items that would be difficult to replace bearing legal significance are sent by certified mail. Items that would be difficult to replace bearing legal significance are sent by certified mail.
Stretch the flexor muscles with hyperextension at the wrist. Hold the forearm vertical with one ... Stretch the flexor muscles with hyperextension at the wrist. Hold the forearm vertical with one ...
People in poor, urban areas often find themselves in “food deserts" People in poor, urban areas often find themselves in “food deserts"
Food Insecurity among Us—and How You Can Help! Food Insecurity among Us—and How You Can Help!
Food Miles in a Meal Food Miles in a Meal
Video: Summation - defined, spatial, temporal & AP generation or not

For a complete list of videos, visit our video library