Econ project

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  • Sorry Mr. Santa but you have not been paying your bills so I am afraid I am going to have to evict you from your home.
  • Ho ho ho this is rediculous
  • Hey Jim did you know Christmas gifts are perfectly inelastic
  • My name is Eric
  • Ho ho ho I will sell Christmas gifts at a high price and people will still buy the gifts because they are perfectly inelastic!
  • Ho ho ho this is working, many people are buying Christmas gifts for whatever price I sell them for, because they are perfectly inelastic
  • I am willing to pay anything for a Christmas gift right now
  • Whatever the cost is, I will pay it
  • Poor Santa had been producing many goods for many years and never earned a profit, and did not have enough money to pay his bills.
  • Ho ho ho, the presents were inelastic. The change in price over the change in quantity was equal to zero! Also if i were to graph this phenomenon it would result in a vertical line!
  • All seemed hopeless for poor Santa until he overheard two men talking about how Christmas gifts are perfectly inelastic, and then Santa had an idea...
  • Hey Josh, I just spent $5,000 on pair of pants.
  • Eric, my name is Eric, and who even are you?
  • His plan was a huge success. When people heard that Christmas presents were being sold out of season, people from all over the world rushed to take advantage of this opportunity, and since the gifts were perfectly inelastic, Santa could sell them at any price he wished and the people would still buy them.
  • Ho ho ho I have no costs of production and my customers will buy my presents at whatever ridiculous price I sell them for. I am very happy ho ho ho.
  • Since Santa understood basic economics, he was able to prove that the christmas gifts were perfectly inelastic, because he figured out the change in the price of Christmas presents over the change in quantity was equal to zero. This meant the presents were perfectly inelastic
  • Despite the absurd prices, Santa's customers bought thousands and thousands of presents for whatever price Santa wanted to sell them for, because the people had such a high demand for Christmas presents, that they were willing to pay anything.
  • Since no one had the heart to tax Santa, and his elves made his products without pay, Santa became filthy rich, and was able to buy a new house and live there happily for the rest of his life as he continued to sell his presents.
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