...as Mr. Folks would do. Anybody? When a small change in price creates a large change in demand, then demand is said to be elastic, but some products are inelastic, meaning a change in price does not affect demand.
Some key factors that affect the elasticity of demand are what? Mr. Bell. Desire, consumer need.
Right, specifically the ability of a consumer to delay acquisition. What else can affect the elasticity of demand? Damn, man, we got work orders here and ain't nothing happening. I mean, these jobs were promised yesterday, and people are going to be coming in here asking for their work and nothing been done.
Man, fuck them. Let them wait. No, no, you're not going to bring that corner bullshit up in here.
You hear me? You know what we got here? We got an elastic product. You know what that means?
That means when people can go elsewhere and get their printing and copying done, they gonna do it. You acting like we got an inelastic product and we don't. Now, I want this to run like a true fucking business. Not no front, not no bullshit. Understand me?
I'm serious. Bringing us back to our old friends supply and demand. Alright, your research papers are here. Remember Friday? Take on tests.
Well done, Mr. Bell. Mr. Lucas, you got five minutes? Absolutely. Something I'm thinking about, maybe you can help me out with? I'll try.
What are the options when you got an inferior product in an aggressive marketplace? Well, if you have a large share of the market, you buy up the competition. And if you don't? Reduce price to increase market share. That assumes low over.
Of course, otherwise you operate at a loss. And worse, as your prices drop, your product eventually loses consumer credibility. You know, the new CEO of WorldCom was faced with this very problem.
The company was linked to one of the largest fraud cases in history. So he proposed... To change the name. Exactly.
Y'all heard of WorldCom? Alright, let's try this. Y'all get jacked by some knuckles, but y'all clean.
Y'all got an outstanding warrant like everybody in here, and what do you do? What do you do? Give another name.
Why? Because your real name ain't no good. Alright, it ain't good, and follow through.
Alright, Deathgrip A$$hit. Change up the name. What else?
Yo, I got it. Change the caps from red to blue, right? Make it look like we got some fresh shit, boo. And you know what else we might could do?
Give each child his own name, right? And then we do, like, some fake competing. So a fiend gets some bad shit from one, he go back to the other.
There's a thinking man right there. See, nigga, ain't that what the fuck I just said?