Professor Geek

Consider the last product or service you purchased for more than $50, excluding gasoline.

• If the price of that product or service went up by 10% overnight, how would you adjust your behavior in the short term?
• How would you adjust your behavior in the long term?
• If you decide not to buy this product again, what will you buy instead?
• Analyze who will be more sensitive to price changes in what kind of products.