Wednesday, February 27, 2013

Demand Headlines

Complementary Demand: PlayStation 4 Plays up Interest, Price and Consumers feel Played with Increased Game Prices
Supplementary Demand: Samsung Takes a Bite out of Apple Sales with Apple Price Hike
Elastic Demand: Revlon Nail Polish Prices Soar, Cheaper Competition Covers New Base of Consumers
Inelastic Demand: Water Prices Tap into Wallet, Consumers still Drink Bitter Deal

Article for Inelastic Demand - Mapleview, Oregon - I am currently at the home of the Tabor family, one of the many families that must swallow the new price increases on water utility this week. The city of Mapleview had decided after a bitter meeting and close vote to implement these new price hikes on water utility. However, the people affected by this increase express anger and have been speaking out in order to draw attention to the issue they feel has been unfairly forced upon them. Speaking with Mr. Tabor, I lean that despite the unrest over the water prices, the Tabor family will most likely continue to use roughly the same amount of water they did before the price increase. Asked why, Mr. Tabor replied "what else can we do?"indicating that consumers will pay for this resource despite its increased cost.


No comments:

Post a Comment