torigold02
torigold02 torigold02
  • 13-09-2018
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Why do some industries have inelastic supply in the short term?

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citricargill citricargill
  • 13-09-2018

Inelastic supply means that an industry cannot change its output level easily. This is because they program or plan their output in advance, based on past sales and demand. If the demand for a good increases rapidly, the industry that produces it cannot change its output because they are not prepared for it.  

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