Thrift Shop: Elasticity Version | Teen Ink

Thrift Shop: Elasticity Version

May 26, 2013
By C.M.L. BRONZE, San Jose, California
C.M.L. BRONZE, San Jose, California
3 articles 4 photos 22 comments

Favorite Quote:
wobbledy wobbledy wa wobble wobble

Hey man! can we go elasticity shopping (wut)

What what what what etc.

Bada, badada, badada, bada [x9]

I’m gonna pop some stacks
Only got rubber bands in my pocket
I - I - I’m a huntin, lookin’ for a good one
This is freakin awesome

[Verse 1:]
Nah, walk up to the club like, “What up? I got a big wallet!”
I’m so pumped, about that concept, we call it
Elasticity, cause damn, my demand so elastic
I got so many choices it’s freakin’ fantastic
Some got that, some got unit, some got inelasticity,
Meanin’ if price up, then they be stuck there, fiscally,
I got those four things that make elasticity climb,
They be luxury, income, substitutes and time
But hell, I got way more than a dime! (Spend it)

Addin’ it, dividin’ it, bout to calculate them coefficients
Find that income elasticity, or percent price and percent quantity
But negative means inferior,
so if the cash rolls in, I won’t buy it
But normal be my choice when the cash is flyin’

I’ma raise my MPS, I’ma raise my MPS
No for real - do the math - will ya save your extra cash?
My MR positive so my demand is elastic
P up or P down, I be flexible like plastic

They raised the price to five bucks, I dropped Qd to two cups
I spent some of my cash, TR just fell to ten bucks
Hello, hello, Qd change is zero
Price up, Ed becomes infinity forreal doe

If Qd don’t flow, then we know Ed low
Economistas be like, “Aw, you inelastic, bro”

[Hook x2]

[Verse 2:]
What you know about slope of elasticity?
What you knowin’ about how it affects monopoly?
I’m adding, I’m addin’, doing rise over run
You know it be elastic if it’s greater than one

Thank Mr. Lepler for teaching us all about this con-
cept, ‘cause right now I’m up in this CVS stretchin’
Lucky D’s flat, cause see that, he be dependent
I’m not, I’m not sick of not bein’ so freakin’ helpless
The buyers, the sellers, them suppliers and demanders
Government taxes, more elastic so I save that mother----
Tax incidence be falling on that mother----
Inelastic, so they payin’ all of that mother----

They be like “Oh that Pepsi - that’s hella good.”
I’m like, “Yo - that’s a great substitute for Coke.”
Find that coefficient, we do some simple division
Now we know it’s positive, so that’s a simple decision

I call that knowin’ how to spend
I call that havin’ choices, catchin’ trends
That grain’s a Giffen good
And buying more of that as price rises, despite demand law, is a hella don’t
Leet game, don’t trust ads, as I’m aware, hella dope
Tryna get me to buy that rice? Man I hella won’t
Man I hella won’t

(Walmart... poppin' stacks... yeah!)


I wear inferior goods
Don’t need no normal goods
I’m coming from the hood
Savin’ money like I should
I wear inferior goods (Walmart)
Don’t need no normal goods (Safeway)
I’m coming from the hood (damn right)
Savin’ money like I should (let’s go)


Is that a Veblen good?

The author's comments:
An econ project that turned out way more fun than I could have imagined.

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