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What PES measures

What PES measures

In a competitive market, firms are price takers who choose how much to sell at the market price. Quantity supplied is the amount producers are willing and able to sell at a given price over a given time period. If price changes and other factors stay constant, there is a movement along the existing supply curve rather than a shift.

1.3.4 Price elasticity of supply Lesson

  1. A Level
  2. /Economics
  3. /1.3.4 Price elasticity of supply