单词 | perfectly inelastic |
释义 | perfectly inelasticDefinition An economic situation in which the price of a product will have no effect on the supply. In a perfectly inelastic situation regardless of the amount of a product on the market, the price of the product remains the same. Perfectly inelastic is the opposite of perfectly elastic. Use 'perfectly inelastic' in a SentenceI was glad the product was perfectly inelastic because that meant the price would not effect the supply and I liked that. There are not many items that are perfectly inelastic, the only things I have seen that the prices have remained basically the same is the junk toys that usually cost a dollar at Walmart, everything else seems to be effected by inflation. You need to figure out the best way to proceed when you are dealing with something that is not perfectly inelastic. |
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