Question

How does the quantity supplied of a good with a large elasticity of supply react to a price change?
bobpursley
Isn't it amazing on the Walmart Shelf (things advertised on TV) are so cheap?
Elliot
Err, I still don't understand?
bobpursley
What I am saying, if it is easy to make (say a plastic wonder kitchen tool) that is made in great quantity, once demand drops, the price drops dramatically. The items are virtually worthless. Walmart sells them.

Elliot
So the quantity supplied moves down the supply curve?
bobpursley
yes.