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What PES measures

What PES measures

Side-by-side supply diagrams showing a steep inelastic supply curve with a small quantity change and a flatter elastic supply curve with a larger quantity change for the same price rise Price elasticity of supply, or PES, measures how responsive quantity supplied is when price changes. It describes a movement along the supply curve caused by a price change.

Price elasticity of supply Lesson

  1. GCSE
  2. /Economics
  3. /Price elasticity of supply