1. Name a product that you stock-up on when on sale.

2. What's its normal price?

3. How many do you normally purchase per week/month/year?

4. How much is a typical sale?

5. Which causes you to buy how many under the new sale price?

6. What is your coefficient for price elasticity of demand?

example

1. Boxed wine

2. $18

3. One per month

4. $14

5. Three per month (wine improves with age!)

6. (2q change/2q avg)/($4 change/$16 avg) = 1/.25 = 4

YOUR FORMULA IS: (quantity change/average quantity)/(price change/average price)