Part 1: Tell us about a good or service for which you have VERY Inelastic demand (you would buy almost the same amount even if the price doubled). Be honest, but creative.
Part 2: Tell us about a good or service for which you have Elastic demand (you would buy a lot less of it if the price increased even a little).
Collapse SubdiscussionSara NicholsonSara NicholsonYesterdayMar 3 at 1:56pmManage Discussion EntryInelasticWell as I am sitting here stress eating over homework and the quiz. Captain Crunch with crunch berries comes to mind. Not that I am on my second bowl or anything but Captain Crunch is $5.00 at the Walmart if you so dare to shop at a place that does not treat employees fair and pays them indecent wages to keep your prices low. Have you shopped at VONS lately though. What’s a girl to do!? The five dollars is for the family size box if you so choose to share. Who does that? Anyway, if it were to increase to $10.00, I would still buy it. I spend ten dollars on the most ridiculous things. Things that dissipate so quickly like hardly any gasoline. I have nothing to show for that gasoline but I am pretty happy with a bowl of Captain Crunch. I probably have a good 1/2 lb. to remember it by stuck to my gut. Gasoline is just gone down the tank into thin air polluting the environment. (Global Warming is Real). I wonder if I eat another one will I will be so drowned in Dopamine that I will relax for this upcoming quiz and actually get better than a 50%. I think you also need to consider what the starting price is as well. If something that you value is really affordable then you can afford to still buy more if the price goes up. ElasticI still need that oil change. I am calling around and being quoted $100.00. I may just ignore this light. I have strong intensions to do it myself and save me tons of money in the future. Thanks for listening.
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