When economists are sketching examples of demand and supply, it is common to sketch a demand or supply curve that is close to vertical, and then to refer to that curve as ______________?

Respuesta :

Inelastic. A demand curve that is close to vertical is said to be "inelastic," where the quantity demanded is almost independent, or not connected or related, to its price. An almost vertical supply curve is where there is a fixed or limited quantity and must determine the price despite this constraint.