A discount on Nutella has led to violent scenes in a chain of French supermarkets, as shoppers jostled to grab a bargain on the sweet spread. Intermarch supermarkets offered a 70% discount on Nutella, bringing the price down from 4.50 (3.90) to 1.40. But police were called when people began fighting and pushing one another. "They are like animals. A woman had her hair pulled, an elderly lady took a box on her head, another had a bloody hand," one customer told French media. A member of staff at one Intermarch shop in central France told the regional newspaper Le Progrs: "We were trying to get in between the customers but they were pushing us." All of its stock was snapped up within 15 minutes and one customer was given a black eye, the report adds. Similar scenes have been reported across France, with some being described as "riots". The hunt for discounted jars continued on Friday, with shoppers in a supermarket nearToulouse being handed just one each.

Questions:

1. Explain clearly what this tells us about the elasticity of the product.

2. Sketch a supply demand curve to explain what happened.