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Posts by The Self Taught Man
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2024-07-20 at 12:21 AM UTC in Top 3 Failures on this Website XXL EditionA pom? Like a Pomeranian?
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2024-07-19 at 9:58 PM UTC in Donald Trump just got shot
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2024-07-19 at 8:36 PM UTC in What are you thinking about....
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2024-07-19 at 7:44 PM UTC in Kamala is the only choice Dems have if they boot BidenHey guys Republicans are trying to kill women
Hey guys if the Republicans are put in power all women should kill themselves
Teamwork makes the dream work -
2024-07-19 at 6:36 PM UTC in (Hi Aldra)Elasticity of Demand and Consumer Perception of other expenses.
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2024-07-19 at 6:25 PM UTC in (Hi Aldra)Elasticity of Demand and Consumer Perception of other expenses.Certainly! Here’s the formatted response using BB code for forum posting:
```bbcode
Considerations Affecting Demand Elasticity
1. Total Cost of Ownership (TCO):
When consumers are informed about the total cost of ownership, which includes initial purchase price, maintenance, repair expenses, and other ongoing costs, they might make purchasing decisions based on this comprehensive financial picture rather than just the initial expense. For luxury goods, where the total cost of ownership can be substantial, this is particularly relevant.
2. Informed Consumers:
If consumers are aware of the differences in maintenance and repair costs between two products, they are likely to factor these costs into their purchasing decision. In the scenario you provided:
- Good A: $10/year maintenance
- Good B: $15/year maintenance
Given both goods have the same initial purchase price, consumers would prefer Good A due to lower ongoing costs, assuming all other factors are equal.
Impact on Demand Elasticity
1. Good A (Lower Maintenance Costs):
- Demand for Good A would be relatively more inelastic compared to Good B because it is cheaper to maintain over time. Consumers are likely to stick with Good A even if its price rises slightly since the overall cost of ownership remains lower than Good B.
2. Good B (Higher Maintenance Costs):
- Demand for Good B would be more elastic because the higher ongoing costs make it less attractive. Consumers might be more sensitive to changes in the price of Good B and switch to alternatives more readily.
Influence of Monopolistic Competition
In a monopolistically competitive market, firms sell differentiated products, and consumers perceive these products as distinct from one another. The differentiation can be based on quality, brand, features, and indeed, the total cost of ownership. If consumers are well-informed:
- Perceived Value: Consumers will evaluate the overall value of a product, including initial and ongoing costs.
- Brand Loyalty and Differentiation: Strong brand loyalty and perceived product differentiation can reduce price sensitivity, leading to more inelastic demand even if ongoing costs are higher.
Consumer Knowledge and Behavior
- Awareness: If consumers lack knowledge about maintenance and repair costs, they might base their decisions primarily on the initial purchase price, potentially underestimating the total cost of ownership.
- Education and Information Availability: Efforts by consumer advocacy groups, product reviews, and transparency from firms about the total cost of ownership can influence consumer behavior. Well-informed consumers make decisions that reflect both initial and ongoing costs, affecting the elasticity of demand.
Conclusion
The elasticity of demand is influenced not just by the initial purchase price but also by other expenses such as maintenance and repair costs. In the case of luxury goods in a monopolistically competitive market, informed consumers will consider these ongoing expenses, leading to more inelastic demand for products with lower total costs of ownership. Hence, consumer knowledge and the availability of information about these costs play a crucial role in shaping demand elasticity.
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You can copy and paste this formatted response into your forum post. -
2024-07-19 at 5:19 PM UTC in THE MAGA PARTY!,,, the GOP is dead, republicans are going down with the dems,, get ready for THE MAGA PARTY lefty's
Originally posted by the man who put it in my hood If Trump wins I will design a program that counts all the sentences Donald Trump says in a day and prints DONALD TRUMP LIED ______ TIMES TODAY!!!" every day for the entire 4 years he is president and I will be faxxing this list of lies daily to every major presser in the USA like the NYT and WaPo
That'll be easy since I've never lied and never will, so it just needs to say zero every day, bitch. -
2024-07-19 at 5:09 PM UTC in Top 3 Failures on this Website XXL EditionNo1curr!
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2024-07-19 at 5:05 PM UTC in How big are uBeauty comes in different forms. Physical beauty is subjective and fades.
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2024-07-19 at 5 PM UTC in How big are u
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2024-07-19 at 3:50 PM UTC in How big are uNobody cares about you having any cocoa. You’re making it for the lady.
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2024-07-19 at 3:29 PM UTC in Crowdstrike anti-malware breaking Windows PCs this morning
Just imagine how bad things could be if you didn't invest in expensive malware protection and got hacked. -
2024-07-19 at 3:26 PM UTC in THE MAGA PARTY!,,, the GOP is dead, republicans are going down with the dems,, get ready for THE MAGA PARTY lefty's
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2024-07-19 at 2:58 PM UTC in Canadian Woman Accused Of “Racism for documenting Indians shitting on a beachI've pooped on the beach before. Hasn't everyone?
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2024-07-19 at 2:55 PM UTC in Crowdstrike anti-malware breaking Windows PCs this morning
BitLocker is Microsoft's encryption tool, and it makes a device's storage inaccessible without a recovery key. As such, trying to work through some of the current recovery options on a modern device will likely require the use of that recovery key. Pity the administrators who dutifully kept a list of those keys on a secure server share, only to find that the server is also now showing a screen of baleful blue.
https://www.theregister.com/2024/07/19/admin_crowdstrike_update_mess/
Another Redditor posted: "They sent us a patch but it required we boot into safe mode.
"We can't boot into safe mode because our BitLocker keys are stored inside of a service that we can't login to because our AD is down.
LMAO some organisations have encrypted themselves out of their own systems. -
2024-07-19 at 2:14 PM UTC in Crowdstrike anti-malware breaking Windows PCs this morning
No idea why they'd all be different. How could that even be possible?
It'll be interesting when the autopsy videos come out.
Cloudstrike customers are busy today, billions of machines having to be individually fixed.
Serves them right, they trusted a malware vendor. -
2024-07-19 at 1:57 PM UTC in England (LEEDS) outside of Manchester is on Fire!
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2024-07-19 at 1:56 PM UTC in How big are uOmfg make her some hot cocoa you fucking bitch.
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2024-07-19 at 1:38 PM UTC in THE MAGA PARTY!,,, the GOP is dead, republicans are going down with the dems,, get ready for THE MAGA PARTY lefty'sDonald Trump is a tyrant!
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2024-07-19 at 1:35 PM UTC in How big are u
Originally posted by Netflxchillr Oh hey there Jboo! How is you?😘
Oh & Say, I’m a wondering if’n you yet to have reached the:
you’re going to whisk my fat-ass off into paradise & luv’um me, forever “stage”? YET??!
*can’t be a waiting forever, ya know!
I love that you still love him lol.
Just let it happen Steve. You know you want that 4th wife.
