Price Elasticity of Supply
AP Microeconomics · Flashcards · Application
AP MICROECONOMICS · FLASHCARDS
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QUESTION
Calculate
E
s
E_s
E
s
if
%
Δ
Q
s
=
15
%
\%\Delta Q_s = 15\%
%Δ
Q
s
=
15%
and
%
Δ
P
=
20
%
\%\Delta P = 20\%
%Δ
P
=
20%
.
QUESTION
Find the price elasticity of supply if
%
Δ
Q
s
=
5
%
\%\Delta Q_s = 5\%
%Δ
Q
s
=
5%
and
%
Δ
P
=
10
%
\%\Delta P = 10\%
%Δ
P
=
10%
.
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%
.
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ANSWER
E
s
=
0
E_s = 0
E
s
=
0
. Zero quantity change means perfectly inelastic supply.
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