What product or services is likely to have an inelastic supply in the short run?

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1228597

2026-08-13 20:30

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Products or services with inelastic supply in the short run typically include those that require significant time or resources to produce, such as agricultural goods or specialized medical services. For example, crops like wheat or corn have limited supply adjustments due to growing seasons and fixed land availability. Additionally, specialized medical procedures, which require trained personnel and specific facilities, cannot be quickly increased in response to demand changes, resulting in inelastic supply.

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