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Meaning of perfectly inelastic supply | Babel Free

Noun CEFR C1

Definitions

A situation in which firms/producers can only supply a fixed quantity, hence cannot increase, or decrease the available amount even if there are increases/decreases in price. (Elasticity of supply = 0)

CEFR level

C1
Advanced
This word is part of the CEFR C1 vocabulary — advanced level.

See also

Perfectness perfecto perfector Perfects perfectus perfervidity

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