Price elasticity of supply

Noun

Definitions

1.Nounan economic metric that measures the responsiveness of a quantity supplied of a good to a change in its price, calculated as the percent change in supply over the percent change in price.

Synonyms

price elasticity of demand income elasticity of demand cross elasticity of demand perfectly elastic supply cross-price elasticity of demand supply curve equilibrium price demand curve equivalent variation supply and demand business economics price index

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