Economics
In the News
Coronavirus: Elasticity of supply of ventilators
18th March 2020
This article flags up the issue of price elasticity of supply in the middle of the coronavirus outbreak: the governments clarion call for businesses to shift to the manufacture of ventilators makes you wonder whether it will be easy to produce more in the short-term.
It is interesting to note the things that are likely to limit the ability of industry to respond. The major issue appears to be a regulatory one - that and the intellectual property rights of existing manufacturers who may be pressed into sharing proprietary intellectual property with other firms.
URGENT APPEAL: Supply of ventilators and components. Please register if you can assist with:
— Jefferson (@Jefferson_MFG) March 18, 2020
▪️Manufacturing
▪️Design/specification
▪️Rapid prototyping
▪️Assembly & testing
▪️Logistics
▪️Medical traininghttps://t.co/FqrX8Rncxd#Corvid19uk #UKmfg #GBmfg🇬🇧
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