After watching The Hudsucker Proxy clip, discuss the following:
a) What shift factor was at play in this scene?b) How did it affect the equilibrium price and quantity?c) Think of a time in your life where your demand was impacted by a shift factor and describe it using the economics we have covered.Attached is the audio transcript of this film clip.
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[Music in background]
This video takes place in the 1950s
Scene 1: Man standing outside toy store.
Scene 2: Business woman pulls out a running tape and looks closely. Man sits at a desk, smiling. Woman
shakes head yes, man shakes his head yes.
Scene 3: Man standing outside of toy store smoking a cigarette, people walking by. Man hangs new sign
on window advertising a hula hoop.
Scene 4: Business man pacing in an office.
Scene 5: Business woman looking at a running tape.
Scene 6: Man hangs new price sign on window several times (price of hula hoop going down).
Scene 7: Man throws a bunch of hula hoops out the door into an alley.
Scene 8: Hula hoops rolling down sidewalk.
Scene 9: Hula hoop runs into a boy. Boy looks at hula hoop that has stopped in the sidewalk.
Scene 10: Sounds of children yelling as they are running out of the school.
Scene 11: Boy steps into the hula hoop and starts hula hooping as children run up and stop to watch with
a look of curiosity. Sounds of children screaming as they run away from the boy.
Scene 12: Man standing in front of a toy store as children run up screaming.
Scene 13: Man changes price sign up on hula hoop sign on window several times.
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