Unit 2.6: Price elasticity of supply (PES)

IB Economics: Unit 2.6: Price elasticity of supply (PES)

Price elasticity of supply(PES) changes the emphasis of elasticity away from the consumer to the producer. PES is measurement of how producer supply responds to changes in the price of the product they sell. The value of the PES in a market is determined by the willingness and ability of producers in the market to change output in response to a change in price.The link to the attached pdf is revision material from Unit...

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