Wednesday, April 27, 2005

Demand curves almost always have some elasticity left - Division of Labour

When the price of this product approaches zero and it isn't rationed, it gets used in this wide variety of ways:
o sari makers uses its oil to speed the thread through their sewing machines
o it gets mixed into asphalt
o it serves as a disposable water container
o soldiers use them to keep dust out of gun barrels

What is this product? Click the link above.


Blogger TigerHawk said...

Heh. There was a story from the old Soviet Union that was along these lines. Apparently they had a huge shortage of bottle caps and a big surplus of the item in question...

Yes, they used them to close bottles of commie "soda."

I think I read that in Hedrick Smith's book.

2:25 PM  

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