Would you reduce the amount of condoms you consume if their price was to increase by 7%? Why?
Would you reduce the amount of condoms you use if their price was to increase by 7%? Why?
The intention of this question is to analize the bahavior of costumers towards this product when its price increases by 7%. I will apreciate your responses.
Answer:
Supply and demand. More then likely unfortunatly (that is if I used them with my man anymore. We don't bother, it's too damn expensive as it is. My health plan covers birth control pills, not condoms). But if I was back starting in a new relationship, then yes I would have to pay that extra 7%.
I already use condoms twice. A 7% increase would put me into the three time category. I would probably actually save money.
No I do not see my use of them changing and I would pay the 7% it is better to be safe than sorry
This has nothing to do with supply and demand, its the elasticity of demand.
For the direction you are heading, you are saying that condoms are a necessity, or classed as one, in which the amount consumed will change very little due to a price rise, because people will still need the same amount. What this is saying that a double in price, would reduce the quantity demanded little, while a halving in price would not double the amount purchased.
This is why increases in the price of items like Milk, Bread do not change the quantity consumed all much, taxes on cigarettes do little to stop the amount sold, increasing the cost of beer at a student bar would not matter a great deal...
Condoms would be viewed very much as a necessity item, and with all the consequences.. not such a bad idea.
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The intention of this question is to analize the bahavior of costumers towards this product when its price increases by 7%. I will apreciate your responses.
Answer:
Supply and demand. More then likely unfortunatly (that is if I used them with my man anymore. We don't bother, it's too damn expensive as it is. My health plan covers birth control pills, not condoms). But if I was back starting in a new relationship, then yes I would have to pay that extra 7%.
I already use condoms twice. A 7% increase would put me into the three time category. I would probably actually save money.
No I do not see my use of them changing and I would pay the 7% it is better to be safe than sorry
This has nothing to do with supply and demand, its the elasticity of demand.
For the direction you are heading, you are saying that condoms are a necessity, or classed as one, in which the amount consumed will change very little due to a price rise, because people will still need the same amount. What this is saying that a double in price, would reduce the quantity demanded little, while a halving in price would not double the amount purchased.
This is why increases in the price of items like Milk, Bread do not change the quantity consumed all much, taxes on cigarettes do little to stop the amount sold, increasing the cost of beer at a student bar would not matter a great deal...
Condoms would be viewed very much as a necessity item, and with all the consequences.. not such a bad idea.
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