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Price elasticity of supply

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Aquinas College Economics Department
Aquinas College Economics Department

AQA, Aquinas, Economics, ECON1, Markets, Market Failure

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ECON1 WWW.AQUINASECONOMICSAS.CO.UK @AQUINASECONOMIC Price Elasticity of Supply Answer all the questions below 1. Explain the concept of Price Elasticity of Supply 2. What is the calculation for Price Elasticity of Supply 3. Explain what is meant by a commodity 4. What would be the factors which affected Price Elasticity of Supply? 5. Give an example of where supply would be perfectly inelastic and explain why this may be the case?

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Price elasticity of supply

  • 1. ECON1 WWW.AQUINASECONOMICSAS.CO.UK @AQUINASECONOMIC Price Elasticity of Supply Answer all the questions below 1. Explain the concept of Price Elasticity of Supply 2. What is the calculation for Price Elasticity of Supply 3. Explain what is meant by a commodity 4. What would be the factors which affected Price Elasticity of Supply? 5. Give an example of where supply would be perfectly inelastic and explain why this may be the case?