b. To consider whether or not each of the determinants of elasticity would make a demand for a good to be more elastic, let choose the movies as a good. From the availability of substitutes, movies have more elastic demands because, in the case of where the price has been increased, there are alternatives to watch perhaps the same movie for a lower price. In regards to the time, if a particular movie on DVD cost $20 for an extended period, it would have more elasticity of demand because people would consider renting a DVD through Redbox for only $2. Lastly, regarding the proportion of income spent on the good, if people have budgeted $15 per week on entertainment and the tickets a movie has increased by 50 percent, then people would rather
