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Price Elasticity of Demand for Elephant Services

by AdrianFohr

In this clip, Bart becomes the owner of an elephant. He then has the idea of profiting from the elephant. When his original price structure is unprofitable, Homer changes the price of elephant services. Homer makes an incorrect assumption about the elasticity of elephant services with comedic results. Does Homer think that the Price Elasticity of Demand for elephant services is very elastic or inelastic?

Elasticity-Necessity or Luxury

This clip is taken from the episode of the Simpsons: Bart Gets an Elephant. Homer tries to be entrepreneurial but grossly misjudges the elasticity of demand for elephant services.

from The Simpsons: Bart Gets an Elephant (1994)
Creator: Matt Groening
Distributor: Fox 20th Century
Posted by AdrianFohr