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Rare whisky sells for £100,000 – price elasticity of supply

Jim Riley

15th October 2010

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Two bottles of 64 year old Dalmore Trinitas malt have been sold this week for £100,000, which is by far the most expensive whisky ever sold. As always this ridiculous price can be explained using economics. Only three bottles were ever made and supply of the whisky is perfectly inelastic, meaning it cannot be increased. Can your more able students draw a diagram to show how this has affected the whisky’s price?

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Jim Riley

Jim co-founded tutor2u alongside his twin brother Geoff! Jim is a well-known Business writer and presenter as well as being one of the UK's leading educational technology entrepreneurs.

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