Imagine you're planning an after-symphony fund-raising party,and you need a life-size grand piano cake.Or you are a developer proposing a new shopping centre to a group of investors,and you want to serve a cake shaped like an architectural rendition of the centre.Is this impossible? No,you just need to contact Cecilia Villaveces Cakes.She actually built a life-size grand piano cake for a gala in Toronto.You can expect to pay anywhere from $75 to $10,000 for one of Cecilia's creations,depending on complexity of design and size.She uses only the best ingredients,and no two cakes are ever quite alike.
-Refer to Specialty Cakes.Many party planners will use only Cecilia Villaveces Cakes at their parties-no matter what the price.They know that Cecilia's cakes can make a party a success.Moreover,the cakes are what people remember most about the parties.From this description,you should assume Cecilia Villaveces Cakes have which of the following?

Question

Quizplus · Accepted Answer

The fact that party planners are willing to pay any price for Cecilia Villaveces Cakes and view them as essential to the success of their parties indicates that the demand for her cakes is inelastic - meaning that customers are willing to pay a higher price for her cakes regardless of the cost. This suggests that Cecilia Villaveces Cakes has a stable, reliable customer base that is loyal to the brand, rather than offering an elastic supply that could be easily replaced by competitors.

Imagine You're Planning an After-Symphony Fund-Raising Party,and You Need a Life-Size