Microeconomics
Microeconomics
13th Edition
ISBN: 9781337617406
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 6.4, Problem 2ST
To determine

Explain the concept of perfectly inelastic supply.

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Students have asked these similar questions
What does it mean by inelastic supply
Why  might  one  expect  the  elasticity  of  supply  of  a commodity  to be greater in the long run than in the short run?
What are some products with inelastic prices that we haven't thought of? And why does that product have that sort of demand? Are there no substitutes or has a business just figured out how to reduce competition?
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