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Demand shifters

by Jadrian

Guest co-host, Ashanti, mentions that expensive flights during Thanksgiving should be "tapped out" because a lot of people need to be with their families during Thanksgiving. This relates to the concept of demand and supply because the airlines know that when it is close to Thanksgiving, the demand for flights increases, and since most people are eager to be with their families, they are rather inelastic to the price change, so the firms take advantage of this and raise the price of the tickets drastically in order to increase their total revenue. 

The Real -- Tap Out Thanksgiving

The women of The Real aren't happy with some Thanksgiving traditions.

from The Real (2016)
Creator: Fox
Distributor: YouTube
Posted by Jadrian
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