Coffee is an inelastic good. Many individuals wake up to a cup of coffee to start their day. The price of coffee fluctuates no matter what. I personally like Starbuck’s coffee, although Starbuck’s is probably one of the most expensive coffee shops, I honestly believe that the price increase doesn’t have an effect on the total revenue. I continue to go back for more no matter what. Starbuck’s have a lot to offer, such as, cakes, sandwiches, fruit, etc.… they have excellent customer service; you get what you pay for. There are several substitute goods, there are some places you can go to get a cup of coffee for less than $1, but, is it as tasty and effective as the more expensive brand? Most people drink coffee because they want to seem orCoffee
