elastic supply? Thanks to those who answered my first question.

 

  • jemhasb 5:05 pm on February 28, 2010

    Air at service stations. See how many customers are willing to pay to fill their tyres at any price.

    Elastic supply? Doesn’t exist. Maybe a kinked supply curve at the current price, but not elastic.

  • pancakemaster 5:05 pm on February 28, 2010

    i disagree with above there is a limit to how much someone will pay for air for their tyres certainly less than the cost of a new tyre perfectly elastic means that the same amount will be demanded at any price, this is not true for anything except perhaps an operation that is vital for life perfectly elastic doesnt exist if the price was to drop no-one owuld want the product if it went up the same would happen this would not happen its a theory not applicable to real world a lot of economics is purely hypothetical

    • People are reading:

    examples of commodities, examples of perfectly elastic goods, perfectly elastic goods, commodities of elastic demand, examples of perfectly elastic demand products, perfectly elastic good example, examples of perfectly elastic demand goods, perfectly elastic supply, Perfectly Elastic supply Example, example of perfectly elastic good, perfectly elastic products, what two commodities are elastic, example of perfectly elastic demand, examples of goods which have elastic demand, examples of commodities highly in demands, products having perfectly elastic demand, example of commodities, example of perfectly elastic demand product, perfectly elastic demand oil, perfectly elastic good, example of elastic supply goods, perfectly elastic goods/services, perfectly elastic money demand, example of a perfectly elastic product, elastic supply examples, elastic product example, elastic goods examples, perfectly price elastic examples, elastic good or service example, what are some examples of elastic goods