Among the commodities listed, housing typically has the most inelastic supply. This is because the supply of housing is constrained by factors such as land availability, zoning laws, and the time required to build new structures. Unlike transportation or food, which can be adjusted more flexibly in response to changes in demand, housing supply reacts more slowly, making it relatively inelastic.
Which commodity has the most inelastic supply?
Responses
transportation
transportation
food
food
housing
housing
labor
1 answer
1 answer