Question:

Is the demand of beef in australia currently an elastic demand or an inelastic demand?

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  1. Increases in the price of beef in Australia has always bee very cheap compared to the rest of the world. But recent increases in the price of beef due to drought has seen prices increase resulting in Australian consumers eating less beef. This evidence suggests that the price of beef is elastic.


  2. Well, if sales go down when the price goes up and alternatives (i.e. other meats) are available, then it's elastic.  

    We should all be eating kangaroo anyway, it's healthier, tastier and far more sustainable to produce.

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