What are the characteristics of people who would pay more for coffee and alter their consumption very little?

W2: Discussion Question
Must post first.
Elasticity

This week’s discussion topic is about elasticity and its application. Chapter 5 discusses this in detail. Please read the following article: https://www.aol.com/article/finance/2014/03/13/coffee-cravers-ignoring-bean-price-surge/20849174/

Please answer one of the following questions in your initial post. You may answer the remaining questions in subsequent posts to meet your 4 out of 7-day minimum participation requirement.

1. What are the characteristics of people who would pay more for coffee and alter their consumption very little?

2. What other types of goods have the same characteristics as coffee in this story?

3. Do you believe the demand for gourmet/name brand coffee is elastic or inelastic?