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Which is an example of a good with elastic supply?
large handmade rugs
plums
sandwiches
passenger airplanes
thanks!
1 Answer
- StudentLv 41 decade ago
Large handmade rugs because it's not a necessity and has substitutes to it, so if the price were to increase, demand might fall instead since people can buy rugs that are made by machines. However, travelling by flying is mostly limited to planes, plums are different to other fruits and sandwiches are one of a kind, so they're relatively supply inelastic.