ELASTIC AND INELASTIC DEMANDS.
One wonders whether perchance that friend of the tram traveller Mr. Allum could spare an odd moment from bus losses and glance at any primer on economics. There he will find a clear explanation of how some "demands" are "elastic" while others are not—for example, if bread goes up a penny, or even two pennies, the demand for bread is elastic and just as much bread is sold as before. But tram rides —ah! that's another story altogether, and % good example to show that very few things in this world are indispensable. What happens when tram rides go up a penny? In these hard times we will simply buy less of them. That's all—walk a little more and so spend a little less to make good the buses losses. EPSOMITE.
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Auckland Star, Volume LX, Issue 263, 6 November 1929, Page 6
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134ELASTIC AND INELASTIC DEMANDS. Auckland Star, Volume LX, Issue 263, 6 November 1929, Page 6
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