Economics for Managers

Answer 1). The increased demand for overnight fast food dinning is partly because of the changes in the American work force and also lifestyle changes. Today one fifth of Americans employed do shifts that are not traditional 9 am to 5pm. Instead these percentages of people are employed in evening or overnight or odd shifts in between. We are in an economy that never sleeps as it is called and more people are outside than before at night time. Bar hoppers feeling hungry after few drinks, delivery driver working overnight or just someone who is getting off an evening shift and wants a bite rather than making something at home would generally go to fast food restaurant as it's the only option available. This is some of the reason why demand of fast food is increasing overnight.

Answer 2). Defining a market is best done when not just defined by the product which in this case is fast food but also relating it to place and time. In the case of overnight fast food dinning I believe the market is quite different from lunch time fast food. Thinking about the customer in case of over night fast food its people who are out at night and for lunch customers is people who regularly work during the day. The need for overnight fast food customers is the time of the day which is critical when not many places are available for eating.

Answer 3). With fast food overnight dinning market supply and demand as our reference if there is increase in employment at night time which will increase the fast food demand as more people will eat overnight thus creating a shift in a demand curve, which will actually increase the demand, which will ultimately make a move along a supply curve, thus an increase in quantity supplied.

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