Baywatch Was a Program That Failed to Attract a Sufficient

question 3

Multiple Choice

Baywatch was a program that failed to attract a sufficient audience when programmed by NBC in 1989. NBC canceled the show after a single season. It then went into production for additional seasons in _____ syndication and has become enormously successful in international markets.

• A) classic
• B) first-run
• C) audience-supported
• D) off-network
• E) barter

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Definitions:

Elastic

Describes a situation in which the demand for a product is sensitive to price changes; a small price change results in a significant change in quantity demanded.

Demand Schedule

A demand schedule is a table that shows the quantity of a good or service that consumers are willing to purchase at various price points.

Slope

The measure of steepness or incline, typically describing the change in the vertical over the change in the horizontal.

Price Elasticity

A measure of how the quantity demanded of a good or service changes in response to changes in its price, indicating the sensitivity of consumers to price changes.