Recall the Application about food and drink pricing during "happy hour" at bars and restaurants to answer the following question(s).
-Recall the Application. During "happy hour," many bars and restaurants face an increase in demand for food and drink, and these establishments often cut prices during these times of increased demand. When this demand increases, the demand curve facing these bars and restaurants becomes

Question

Quizplus · Accepted Answer

When demand increases during happy hour, the demand curve becomes flatter, meaning that customers become more price sensitive and are willing to buy more at lower prices. This is why bars and restaurants often cut prices during this time to attract more customers and increase sales.

Recall the Application About Food and Drink Pricing During "Happy