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Mind if I add in an example regarding farmers underproducing via organic farming? It's a tad "conspirational", but long story short, in markets with inelastic demand, producing more decreases not just the price but total revenue as well. Basically, inefficient farming practices are a goal of the food industry in total even if every individual farmer wants to overproduce. CorruptUser (talk) 12:15, 6 June 2015 (UTC)
- Sounds like horseshit. Is this something economists & agriculture experts actually say or just your own pet theory? WēāŝēīōīďMethinks it is a Weasel 12:27, 6 June 2015 (UTC)
- Economists. Here's wikipedia for effects of demand elasticity, though this wikipedia entry may be better for you. Here's WSJ's explanation of oil markets. Food demand is inelastic, and keep in mind that's for individual classes of foods; the wider the type of good (e.g., gala apples and fuji apples, apples and pears, all fruits), the less elastic demand is. CorruptUser (talk) 12:44, 6 June 2015 (UTC)