|
THEMES // SUPPLY INELASTICITY // ...SO "INELASTIC" IS..? |
|
...so "Inelastic" is..?
|
The demand curve steepens as demand becomes more price inelastic. In other words,
no matter what the price of the good, we still want as much of it. At this point price becomes a function solely of how much is supplied.
|
|
|
