tag:blogger.com,1999:blog-7169279.post109751738528669491..comments2023-11-24T03:20:02.361-07:00Comments on Tufte's Economics Classes Blog - A Living Textbook: Is Starbucks Elastic or Inelastic?Dr. Tuftehttp://www.blogger.com/profile/17397586052171706438noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7169279.post-1102746847340432252004-12-10T23:34:00.000-07:002004-12-10T23:34:00.000-07:00Hey - how come a Starbucks post only got one comme...Hey - how come a Starbucks post only got one comment in Utah? ;)><br /><br />Here's my two cents worth of trivia - coffee is the third largest international trade good, after cement and oil. And yes, it's wholesale price is very volotile, and its demand is very inelastic. This was a very big deal in the late 1970s when there were lots of fluctuations in coffee prices.Dr. Tuftehttps://www.blogger.com/profile/17397586052171706438noreply@blogger.com