Inelastic in example sentence
And because the demand curve for life-saving medications is almost perfectly inelastic, raising the price by more than 5,000% is a rational way to maximize profits.
More example sentences with word inelastic
Moreover, excise taxes are a convenient source of revenue in developing countries, as they are primarily levied on products such as alcohol, tobacco, gas, vehicles, and spare parts, which involve few producers, large sales volumes, relatively inelastic demand, and easy observability. All example sentences