Price Elasticity of Supply Calculator
Price Elasticity of Supply Calculator | ||
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Parameter | Description | Example Value |
Initial Quantity Supplied | The initial quantity of the good supplied before the price change. | 100 units |
New Quantity Supplied | The new quantity of the good supplied after the price change. | 120 units |
Initial Price | The initial price of the good. | $10 |
New Price | The new price of the good after the price change. | $12 |
Price Elasticity of Supply | The responsiveness of the quantity supplied to a change in price. Formula: ((New Quantity Supplied – Initial Quantity Supplied) / Initial Quantity Supplied) / ((New Price – Initial Price) / Initial Price) |
1.0 |