Describe face elastic or inelastic demand

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Reference no: EM133903842

Situation 1

Daniel Clark owns Prime Print Shop in Poughkeepsie, New York. The company provides full service copies, plotting, scanning, and custom printing services to professional, municipal, and educational communities. Prime Print Shop claims on its website to be easy to work with. Part of the effort to be easy for customers to work with is being fair in pricing. But what does "fair" mean? To Clark, it means concentrating on outlays for materials and input from customers. Clark relies on customer feedback to determine fair rates. Much of the shop's work is customized, but many of the materials can be priced in a standard way, such as black and white copies. Clark also buys some materials in large quantities to get discounts, then promotes special deals when he can drop prices. He has learned that customers perceive prices to be fair when the products and services they purchase meet quality standards. Additionally, he takes pride in knowing his customers' names and providing personal service.

Sources: Prime Print Shop, accessed May 24, 2018; Karen Maserjian Sham, "Setting prices with Prime Print Shop, Poughkeepsie",

Does a company offering products and services like Prime Print Shop, described in Situation 1, face elastic or inelastic demand? How would I answer this?

Reference no: EM133903842

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