It’s far more complicated than that. The choice is often between firing an interceptor against this missile aimed at this target, or firing that interceptor against the next missile aimed at a target you can’t yet know. Because unless your production capacity far outstrips theirs, you’re going to run out first.
Not if you (a) destroy their production capacity while they don't destroy yours; (b) you destroy their stockpiles while they don't destroy yours; and (c) you've found a bottleneck on their side (launchers) and destroy it while they fail to inflict the same damage on you.