Sep 23rd 2012, 18:14:20
Originally posted by Bee:
If you look at EEStats charts for oil in the past resets, if oil is elastic then the qty sold/day vs price should be inverses of each other, which they are not.
They are not true inverses of each other because both supply and demand curves moves to the right daily in the first few weeks, leading to a gradual price increase. Demand rises faster (players grow and need more oil to grab) than Supply (oilers don't grow as fast because top players rarely play oiler), but both are rising.
Oil is definitely elastic, otherwise people wouldn't be stocking and speculating on it.