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Question
Is the supply of genuine antique elastic or inelastic?
Is the supply of genuine antique elastic or inelastic?
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Solution
The supply of authentic antique furniture is inelastic in light of the fact that there is no new creation of furniture. Antique furniture vendors can’t increase or decline the amount of furniture, they are dependent on costs since they are not making the actual furniture.
The supply of authentic antique furniture is inelastic in light of the fact that there is no new creation of furniture. Antique furniture vendors can’t increase or decline the amount of furniture, they are dependent on costs since they are not making the actual furniture.
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