4 ms·
If it takes a long time for additional supply to become available the price spike in response to demand changes should be even more pronounced.
by khuey 8y ago
If it takes a long time for additional supply to become available the price spike in response to demand changes should be even more pronounced.
- munk-a 8y agoThis is the expected market reaction when the market is free, but if there is a oligopoly effect in play it can distort this and defer that response. The average age of airline pilots is going up very quickly though, so these terrible practices will eventually illicit a market response, since nobody (or very few people) actually wants to do this.
- frutiger 8y ago> will eventually illicit a market response Completely off-topic and unrelated, but on the small chance that this helps you (or anyone else reading): illicit is something forbidden or illegal, while elicit is to evoke a particular response.