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A comment on Record-Breaking Egg Profits Prompt Accusation of Price Gouging. Parent comment

Re:Record-Breaking Egg Profits Prompt Accusation of Price Go... by l33t233372 on Wednesday February 22, 2023 @01:04PM (#34899905)
You say

> Egg supply is quite inelastic

But right before that you say

> Egg supply was hit hard by the bird flu

Then you say

> reducing demand by just 10% could easily force prices to double

I’m totally confused. Are you mixing up supply and demand?

[ Parent | on HN ]
Re:Record-Breaking Egg Profits Prompt Accusation of Price Go... by HDThoreaun on Wednesday February 22, 2023 @01:06PM (#34899946)
fixed, thanks
[ Parent | on HN ]
Re:Record-Breaking Egg Profits Prompt Accusation of Price Go... by theRealMe on Wednesday February 22, 2023 @01:22PM (#34900202)
It’s still not correct tho. Now it says that if demand drops by 10%, that means price goes up. But that should be the opposite of what happens.
[ Parent | on HN ]
Re:Record-Breaking Egg Profits Prompt Accusation of Price Go... by HDThoreaun on Wednesday February 22, 2023 @01:24PM (#34900230)
Demand curve is unchanged, quantity demanded changes as prices change.
[ Parent | on HN ]