inelastic demand

June 8, 2018

Who Will Care About the Starbucks Price Hike?

When coffee drinkers hear that some prices at Starbucks will rise, their response will depend how how elastic their demand is.

April 21, 2017

Where Smokers Smuggle Cigarettes

New York City just proposed another hike in the price of cigarettes. Instead of the $10.50 minimum, a pack might soon cost no less than $13.00. Historically […]