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A comment on AI's Affordability Crisis. Parent comment

Re:AI's Affordability Crisis by jayd16 on Tuesday June 23, 2026 @12:03PM (#48647124)
If folks won't pay a higher price, doesn't that mean it's inelastic?
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Re:AI's Affordability Crisis by unholiness on Tuesday June 23, 2026 @12:13PM (#48647256)
"Elastic" in economics happens to refers to how elastic the supply/demand is when the price changes (not vice versa, as you're describing). So e.g. an inelastic demand means the quantity demanded changes very little when the price doubles.
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Re:AI's Affordability Crisis by steveBK123 on Tuesday June 23, 2026 @12:06PM (#48647155)
Elastic demand means buyers are highly sensitive; a price hike causes a massive drop in purchases. Inelastic demand means buyers aren’t very sensitive; they keep buying regardless of price
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Re:AI's Affordability Crisis by jayd16 on Tuesday June 23, 2026 @12:11PM (#48647236)
Ah alright I have it backwards then.
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