how can i incorporate a citation of this reference Tyler Cowen and Alex Tabarrok, Modern Principles: Microeconomics,

Fifth Edition. =in my essay following this?

In II Kings 7:16-20, the passage describes a situation in which the city of Samaria was under siege and suffering from a severe famine. Four lepers considered outcasts and had taken refuge outside the city gates, discovered that the besieging army had fled, leaving their provisions and supplies behind. The lepers informed the king and the people of Samaria, who then rushed to the abandoned camp to collect the food and other resources.

This event can be explained using the principles of supply and demand. Before the discovery of the abandoned camp, the city of Samaria faced a scarcity of food due to the prolonged siege. The supply of food within the city was limited, so the demand for it was high. This high demand created a situation where people were willing to pay exorbitant prices or even resort to extreme measures to obtain food. However, when the lepers discovered the abundant supplies left behind by the fleeing army, the market dynamics shifted dramatically. Suddenly, there was a significant increase in the food supply, which exceeded the previous scarcity. With this newfound supply, the city's food demand decreased substantially. The people of Samaria, who were previously desperate for food and willing to pay any price, now had access to ample provisions. Consequently, food prices would have dropped significantly, and people would no longer resort to extreme measures to obtain it.

In terms of elasticity, the demand for food in Samaria likely became more elastic following the discovery. Elasticity refers to the responsiveness of demand to changes in price. In the context of this passage, the demand for food was initially inelastic, as people were willing to pay high prices to meet their basic survival needs. However, with the sudden increase in supply, the demand became more elastic as people had more options and could afford to be more selective. As a result, small price changes would significantly impact the quantity demanded, and consumers would be more sensitive to price fluctuations.

Overall, the story in II Kings 7:16-20 illustrates the interplay of supply and demand in an extreme situation. The discovery of abandoned supplies led to a significant increase in the supply of food, which in turn reduced the demand and eased the desperate conditions in the city. This event highlights the importance of understanding supply and demand dynamics in analyzing market behavior and how changes in supply can influence the elasticity of demand.