Cambridge AS & A Level Economics
2.3Price elasticity of supply
Price elasticity of supply in Cambridge AS & A Level Economics: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic22 practice questions1 lesson
Learning objectives
What the syllabus expects you to be able to do.
- 2.3.1Define PES.
- 2.3.2State the formula for and calculate PES.
- 2.3.3Explain the significance of relative percentage changes and of the size and sign of the coefficient.
- 2.3.4Explain the factors affecting PES.
- 2.3.5Explain the implications for the speed and ease with which firms react to changed market conditions.
Lessons
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Price elasticity of supply
40 min
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Sample question
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