Reviewed by Michael J Boyle Fact checked by Michael Rosenston Goods and services can be either elastic or inelastic. Elastic ...

Price elasticity is a rear-view mirror metric that allows a ... At the other end of the spectrum is a brand that is "perfectly inelastic," meaning it can pretty much enter any category it desires ...

A rubber band undergoes elastic distortion when stretched a little. A metal drinks can undergoes inelastic distortion when it is squashed.

So, if the corn from your farm has a price elasticity of supply equal to 0.2, it is inelastic. Perfectly Elastic Supply The PES for perfectly elastic supply is infinite, where the quantity ...