The effect that the shift from the growing of popcorn would have in the cinema is that there would be a decrease in the supply of popcorn in the cinemas this would be reflective in the price which would rise.
How does supply affect price?
When there is a low supply in the particular product, then we can say that there is a scarcity of that product. This would cause the price of the product to rise in the market.
This would also lead to the fall or decrease in the demand for popcorn in the market. this would further cause a decrease in the quantity of movie tickets that are bought in the market.
The factor that is responsible for this is the fact that movie tickets and popcorn are complementary goods.
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complete question
Popcorn Movie” Experience Gets Pricier
Cinemas are raising the price of popcorn. Demand for field corn, which is used for animal feed, corn syrup, and ethanol, has increased and its price has exploded. That’s caused some farmers to shift from growing popcorn to easier-to-grow field corn.
Source: USA Today, May 24, 2008
Explain and illustrate graphically the events described in the news clip in the market for
Popcorn
Movie tickets
