Assignment 2
Assignment 2
Electricity
Electricity
12
price QD QS
10
2 25 10
8
Price
4 23 15 6
Demand
6 21 20 4
Supply
8 20 25 2
10 19 30 0
0 10 20 30 40
Quantity
This graph shows the inelasticity of electricity. It is inelastic because no matter what the
circumstance may be, (be it the pandemic or not), electricity is a necessity and there are no
substitutes for electricity. So instead of having a shift in demand and supply to occur, it stays as
it is due to its inelasticity.