Need business and finance help with early adopters who pay a hefty price to be one of the first to own a tool

User Generated

whatyr_Xvat

Business Finance

Description

Sometimes early adopters pay a hefty price to be one of the first to own a tool or technology. 

Can you think of an example where the price of a good or service, when introduced, was very 
high, but still many consumers still wanted to be one of the first to buy it?

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Thank you for the opportunity to help you with your question!

We can think of an example of purchasing the Mercedes Car when on introduction the price of the Mercedes are very high.In spite of that high price many consumer still wanted to but the Mercedes.Here the willingness of buying Merecedes is taken into account rather than the price of the car.So all that matters here is the willingness of the consumer to buy the product.

Please rate my answer so that I can help you further in the future.


Anonymous
Just the thing I needed, saved me a lot of time.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags