In micro-economic theory much room is given to the discussion of inhomogeneous production functions, or more precisely, production functions with a monotonically decreasing elasticity of scale. On the ...

The Southern Economic Journal features original, refereed scholarly articles in all areas of economics as well as contributions on the pedagogy of economics. The journal also contains occasional ...

Reviewed by Michael J Boyle Fact checked by Michael Rosenston Goods and services can be either elastic or inelastic. Elastic means the product is more sensitive to price changes, such as luxury goods ...

Discover the key factors influencing supply elasticity, including pricing, resource availability, technology advancements, ...

Sudden demand surges or supply chains snarls will drive prices up quickly. Businesses face two issues when this happens, First, when a price rises sharply, how long will it take for increased supply ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Price elasticity of supply measures how responsive supply is to price changes.