How elastic is the demand for coffee?
You can check the answer of the people under the question at Quora “coffee price elasticity of demand“
How elastic is the demand for coffee?
You can check the answer of the people under the question at Quora “coffee price elasticity of demand“
For me – quite inelastic – I need my cup in the morning.
so, at the individual level, the answer really depends on a person’s preferences and level of addiction.
It’s not the case that the demand for anything in either elastic or inelastic. It is electric in some portions of the demand curve and inelastic in others. It depends son the price.
Very difficult question.
Die hard fans of hot beverages – coffee or tea, they will not change their habits & continue to consume, as regularly as they do in normal life, irrespective of where they are, else the daily work suffers !! but they will not compromise coffee or tea drinking time & habit.
There is a floating & oscillating population, who do not mind what hot beverage they are drinking, but simply want something hot – they rely on the serving person, who is likely to say that try this !! a new variety or new flavor, try with my hands… you will like it or never forget the taste again or will keep returning for it….. This oscillating category of people drink more, on a given day than their routine, depending upon their other hobbies or the company in which they find themselves i.e. say playing card games, board games, neighborhood / park / regular exercise / evening walking visits. Players playing badminton or tennis or football or soccer or handball or basketball are likely to consume energy drinks (juices) than taste any hot beverages.
This floating / oscilalting population percentage will determine the elastic limits of each hot beverage – coffee or tea.
Conclusioni
Do not figures to share with, but above mentioned text, may help you to to arrive at figures