Socialism works, people. Particularly (though not limited to) for things with a vertical demand curve— necessities. Food, water, and now electricity and internet.
Is vertical demand curve the same as inelastic demand?
Yes. Different books call the phenomenon by different names, but it amounts to the same thing.
Thanks. Vertical Demand Curve would make a great band name.
Hmm, where water is heavily subsidized like in the UAE (I think, I could be wrong about the country) water usage is much higher than it would be naturally. Especially with things like irrigation. I know I would take much shorter and less frequent showers if water was super expensive. So I don't think water is necessary a vertical demand curve.
Socialism works, people. Particularly (though not limited to) for things with a vertical demand curve— necessities. Food, water, and now electricity and internet.
Is vertical demand curve the same as inelastic demand?
Yes. Different books call the phenomenon by different names, but it amounts to the same thing.
Thanks. Vertical Demand Curve would make a great band name.
Hmm, where water is heavily subsidized like in the UAE (I think, I could be wrong about the country) water usage is much higher than it would be naturally. Especially with things like irrigation. I know I would take much shorter and less frequent showers if water was super expensive. So I don't think water is necessary a vertical demand curve.