Cinemas are raising the price of popcorn. Demand for field corn, used for animal feed, corn syrup, and ethanol, has increased and its price has exploded. Some farmers have shifted from growing popcorn to easier-to-grow field corn.

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02-09-2022
Business

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Cinemas are raising the price of popcorn. Demand for field corn, used for animal feed, corn syrup, and ethanol, has increased and its price has exploded. Some farmers have shifted from growing popcorn to easier-to-grow field corn.

Sagot :

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ogorwyne ogorwyne · Answer 1 · 2022-09-10T03:38:57-04:00

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.

Cinemas are raising the price of popcorn. Demand for field​ corn, used for animal​ feed, corn​ syrup, and​ ethanol, has increased and its price has exploded. Some farmers have shifted from growing popcorn to​ easier-to-grow field corn.

Sagot :

How does supply affect price?

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Cinemas are raising the price of popcorn. Demand for field corn, used for animal feed, corn syrup, and ethanol, has increased and its price has exploded. Some farmers have shifted from growing popcorn to easier-to-grow field corn.