definitions

inelastic supply

Supply whose percentage change is less than a percentage change in price. For example, if the price of a commodity drops twenty-five percent and supply decreases by only two percent, supply is said to be inelastic. (See elasticity.)

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Nearby words

inegalitarian, inelastic, inelastic collision, inelastic demand, inelastic scattering, inelastic supply, inelegance, inelegancy, inelegant, ineligible, ineloquent
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.