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Notice of Hearing on the Application to Use Sodium Fluoroacetate ...

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chagses caus~d<br />

~OSS~S.<br />

! -<br />

3y ;qcreaj~d supply. T+e 2ifsc: !s <strong>to</strong> 3vorszats C C % ~ '<br />

35. Whe<strong>the</strong>r an increase in supply <str<strong>on</strong>g>of</str<strong>on</strong>g> shes? and lamb would in fact rzsult<br />

in a decrease in price depends <strong>on</strong> ~he s2nsicivify <str<strong>on</strong>g>of</str<strong>on</strong>g> price <strong>to</strong> <strong>the</strong><br />

quantity sold, which is "Le.med price flexi bil i ty or price e:astici ty<br />

ef demand. "Price flexibility" is che percent.age change in price ;.rhich<br />

will resulc from a <strong>on</strong>e perccnt change in <strong>the</strong> quanticy cffered for<br />

L<br />

sale, wni 12 "el astici ty <str<strong>on</strong>g>of</str<strong>on</strong>g> dernand" i s bhz eercentage change in q1 ~nci ty<br />

- 1<br />

purchased that resul ti: frcm a <strong>on</strong>2 percznt change in price. I nere i s<br />

evidence that :he dernand for lamb is inelastic and thac in view <str<strong>on</strong>g>of</str<strong>on</strong>g> <strong>the</strong><br />

fact that <strong>on</strong>ly a minbrity <str<strong>on</strong>g>of</str<strong>on</strong>g> producers suffer gredati<strong>on</strong> loss2s,

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