Demand and supply in action - Waitrose Christmas pudding again
Last week I wrote about the Heston Christmas pudding flying off the selves in Waitrose. Well it would appear that it has almost sold out as Waitrose appear to have underestimated the demand for the product. Some of these Christmas puddings have appeared on ebay for £129!
Waitrose are trying to produce more however the orange in the middle takes 7 weeks to cure, therefore making the supply curve fairly inelastic.