Price Elasticity of Supply

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4 Terms

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Price Elasticity of Supply

PES measures the responsiveness of quantity supplied given a change in price.

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PES formula

% change in Quantity Supplied/% percentage in Price

3
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<p>What elasticity is this?</p>

What elasticity is this?

Inelastic

4
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<p>What elasticity is this?</p>

What elasticity is this?

Elastic