Supply and demand curves don't address the customer's awareness and perceptions at all price increases. Sure if the price doubles, they'll notice. But a 5-10% i

Supply and demand curves don't address the customer's awareness and perceptions at all price increases. Sure if the price doubles, they'll notice. But a 5-10% increase in something infrequently purchased would not be noticeable to the average consumer. Now if it's something they purchase everyday? They'd notice a penny increase.