Price Elasticity of Supply
AP Microeconomics · Flashcards
AP MICROECONOMICS · FLASHCARDS
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QUESTION
Calculate
E
s
E_s
E
s
if
%
Δ
Q
s
=
0
%
\%\Delta Q_s = 0\%
%Δ
Q
s
=
0%
and
%
Δ
P
=
5
%
\%\Delta P = 5\%
%Δ
P
=
5%
.
QUESTION
Choose the supply elasticity: immediate market period.
QUESTION
Choose the supply elasticity: long run.
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ANSWER
Elastic. Sufficient time enables full production capacity adjustments.
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