Manon's Econ Blog

Happy Thanksgiving!

Posted on: November 23, 2009

Thanksgiving in one day in the entire year. During this day, people are expected to eat turkey. To add to this tradition, it is a national holiday. As we can imagine, the demand for turkey increases drastically before Thanksgiving.

Before and after Thanksgiving (D1), people who demanded turkey wanted it for a normal meal. The demand was not particularly elastic nor inelastic.

On Thanksgiving day (or a few days before), demand for turkey increases (D2). People now want turkey for their meal, no matter the price. In addition to the increase in demand, demand becomes inelastic. With this shift in demand to the right, the price for turkey increases drastically, as well as the quantity demanded.

Happy Thanksgiving! 🙂

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2 Responses to "Happy Thanksgiving!"

I agree that people will want turkey regardless of the price, since it’s THANKSGIVING! I love your posts. They are very colorful and full of diagrams, so it’s very easy to see what you are trying to say. Good job, Manon:)

Nice initiative post Manon! The diagram is really good. Keep up the good work!

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