Price Elasticity of Supply

This study guide covers Price Elasticity of Supply (PES), including its definition, calculation using the formula: Es = (%ΔQs) / (%ΔP), and different types (perfectly inelastic, relatively inelastic, unit elastic, relatively elastic, and perfectly elastic). It also provides examples, practice questions (multiple-choice and free-response), and exam tips focusing on how PES influences market outcomes and its interaction with price elasticity of demand.