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Sublight2097 Sublight2097
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9 years ago
Why are prices for groceries and household items typically higher at a 24-hour convenience store compared to stores open from 6 am to 11 pm?
A) Shoppers' options are generally fewer in the middle of the night.
B) The elasticity of demand of the middle-of-the-night shopper is typically higher than the mid-day shopper's elasticity.
C) The owners of the 24-hour stores are typically more selfish than the others.
D) The owners of the 24-hour stores are more interested in maximizing net revenue compared to the others.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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SmooothSmoooth
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9 years ago
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Sublight2097 Author
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#2
9 years ago
My mind was going in all different directions trying to figure this one out. Thanks so much.
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#3
9 years ago
My pleasure Happy Dummy
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