If the price of a good increases and the quantity supplied increases by a smaller percentage, the price elasticity of supply is considered inelastic.

Price elasticity of supply measures how much the quantity supplied of a good changes when its price changes. If the price of a good goes up but the quantity supplied increases by a smaller percentage, this means that suppliers are not very responsive to the price change. For example, if the price of oranges rises by 10% but the quantity supplied only increases by 5%, the supply is considered inelastic. This happens often with goods that require time or resources to increase production, like agricultural products. Inelastic supply means that even if prices rise, suppliers cannot quickly or easily provide much more of the product.