(Answered) Elasticitywatch the episode of the simpsons bart gets an

Economics

Elasticity

Watch the episode of The Simpsons "Bart Gets an Elephant". In the episode, the Simpsons find that their pet elephant, Stampy, is eating them out of house and home. So, Bart devises a plan to charge admission for people to see the elephant.

What happened at $1 price? Why did he raise the price to $100? What happened at $100 price? Did he accomplish his goal? Use your knowledge of elasticity to explain what, why, and how this plan happened.

Here is a link to the episode: http://pixa.club/en/the-simpsons/season-5/epizod-17-bart-gets-an-elephant

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