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PUB MINI CASE: Sean and His Friends, Most of Whom

question 10

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PUB MINI CASE: Sean and his friends, most of whom are Irish immigrants or have Irish parents, enjoy drinking at The Celtic Knot, a small New York pub that serves many Irish beers, is decorated with genuine Irish paraphernalia, and holds weekly traditional Irish music sessions .Like many of his friends, Sean enjoys the feeling the pub gives him of connection with his Irish heritage.The pub advertises at community centers and churches in predominantly Irish areas of the city.On its posters, underneath a photo of a group of attractive young people in a cozy corner of the pub drinking and laughing together, is the pub's slogan: "Because being Irish is about more than just St.Paddy's Day."
-In the PUB MINI CASE,by targeting such a specific market,The Celtic Knot is engaging in ________.


Definitions:

Opera Tickets

Opera tickets are passes purchased for the purpose of gaining entry to an opera performance.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level, at a given time.

Relatively Elastic

Describes a situation where a small change in price leads to a larger change in the quantity demanded or supplied.

Decrease in Price

A reduction in the cost of a good or service, which can influence consumer demand and potentially market dynamics.

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