[wdead]

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wdead you seem confused with regards to price elasticity and in the process are confusing me. It has nothing to do with producing more land or ice cream.

If the price goes down, people will demand more (hey at less $ per acre I will buy more acres). If the price goes up, people will demand less. Thus it is not inelastic.

The closest to perfectly inelastic would be like insulin, since no matter what the price if you need it to live you will consume the same amount.

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Also, you are talking about demand elasticity. Supply elasticity has to do with how suppliers change their output based on price changes. If the price of ice cream changes, ice cream suppliers will adjust. However, when the price of land changes, there is no supply to change, so land demand is a classic example of inelastic price elasticity of supply