but in the short run, supply tends to be very price inelastic. Supply price elasticity depends on the elasticity of substitution and supply restrictions. There is significant substitutability, both between land and materials and between labour and materials. In high-value locations, multi-story concrete buildings are typically built to reduce the amount of expensive land used. As labour costs have increased since the 1950s, new materials and capital-intensive techniques have been employed to reduce the amount of labour used.