It is impossible for a good to be price elastic in demand and price inelastic in supply.

Name: It is impossible for a good to be price elastic in demand and price inelastic in supply.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A good can be price elastic in demand, meaning consumers are sensitive to price changes, while being price inelastic in supply, meaning producers are not as responsive to price changes due to factors like production constraints.

It Is Impossible for a Good to Be Price Elastic