Wednesday, April 10, 2013

In response to Tammy

Have you ever encountered a problem where you bought a product that has an inelastic demand? Did you buy it? What was your decision factor for it? 

I have encountered a problem where I had to purchase a product with an inelastic demand.  A couple summers ago my allergies to pollen were very bad.  I wear contacts and the pollen was really starting to affect my eyes.  I would wake up in the morning and one eye would be completely blood shot.  I finally went to my doctors to see if there was a product out there that could help with the allergies.  My doctor told me there was an over the counter eye drop that might do the trick.  I went to the grocery store expecting the item to be more pricey than typical eye drops, but they ended up being $13.99 for the smallest bottle of the drops.  I ended up buying them in the end because I knew I needed them and at this point I would try anything that would work.  They ended up not being a horrible decision and I still have them.  They lasted me far longer than expected.

Have you ever bought a product that has an inelastic demand, but did not work or was not worth the price?

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