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1.2.5 Elasticity of supply

How is price elasticity of supply calculated?

A
<strong>PES=%ΔP%ΔQs</strong> <strong>PES = \dfrac{\%\Delta P}{\%\Delta Q_s}</strong> <strong>PES=%ΔQs​%ΔP​</strong>
B
<strong>PES=%ΔQs%ΔP</strong> <strong>PES = \dfrac{\%\Delta Q_s}{\%\Delta P}</strong> <strong>PES=%ΔP%ΔQs​​</strong>
C
<strong>PES=%ΔQd%ΔP</strong> <strong>PES = \dfrac{\%\Delta Q_d}{\%\Delta P}</strong> <strong>PES=%ΔP%ΔQd​​</strong>
D
  • Shortages and price spikes can persist.
  • Higher long-run PES lets output catch up and prices settle.

1.2.5 Elasticity of supply Flashcards

  1. A Level
  2. /Economics
  3. /1.2.5 Elasticity of supply

Flashcards for Edexcel A A Level Economics 1.2.5 Elasticity of supply, covering the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3. 22 cards, matched to the Edexcel A A Level Economics (9EC0) specification.