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Elasticity of Demand

by Jadrian

When Mitchell realizes how cheap items at CostCo are, he suggests getting enough for the next two years. When he realizes how many diapers that is, he thinks about getting a shed to store them all. When people face steep discounts on prices, they respond by buying more (law of demand), but how much more they decide to buy is based on the elasticity of demand. In this case, Mitchel appears to be a very price sensitive buyer even though the items are really necessities.

Modern Family: Cheap Diapers

Mitchel is in love with Costco

from Modern Family (2009)
Creator: Chris Lloyd and Steven Levitan
Distributor: Google Play Store
Posted by Jadrian
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