Explore how price elasticity of supply impacts producer decisions and market dynamics, offering insights into the responsiveness of supply to price changes.

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Goods and services can be either elastic or inelastic. Elastic means the product is more sensitive to price changes, such as luxury goods and non-necessary items. Inelastic means the product is less ...