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Roberts and Schlenker (2013) estimate the price elasticity of demand for agricultural commodities to be about -0.08 to -0.05. These are elasticities estimated over much smaller changes in $p$ and $q$ than you are suggesting. Remember that the elasticity is effectively percent change in $q$ for a percent change in $p$, so we can ask what the percent change in ...
Car prices haven’t gone up due to the majority of auto makers profits being from the truck and SUV market. Trucks and SUVs have gone up 40% since 2007. I bought a brand new GMC 1500 in 2007 for \$20,000. That same truck today is \$29,000. (\\$20,000 X 1.45 = 45% inflation. As well the price of heavy equipment, trailers, and diesel trucks have gone up 30-40%...