An Econoclectic Perspective
I'm surprised it's that elastic. If so, it's probably good news.
Now, I'm a physicist who only dabbles in economics, so forgive what may be a stupid question: Isn't it possible for the demand curve to have an upwards slope for a economic "bad" (as opposed to a good?)
Kent,
No one will buy a bad at any price because the purchase would make one worse off. Would you spend money to be made worse off? There is no demand for a bad and thus no demand curve in the usual sense.
Eric
Commenting by HaloScan
