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March 26, 2017

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How does the quantity supplied of a good with a large elasticity of supply react to a price change?

  • Economics - ,

    Isn't it amazing on the Walmart Shelf (things advertised on TV) are so cheap?

  • Economics - ,

    Err, I still don't understand?

  • Economics - ,

    What I am saying, if it is easy to make (say a plastic wonder kitchen tool) that is made in great quantity, once demand drops, the price drops dramatically. The items are virtually worthless. Walmart sells them.

  • Economics - ,

    So the quantity supplied moves down the supply curve?

  • Economics - ,

    yes.

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