Brief of Price elasticity of supply

• The price of elasticity of supply 

*The law of supply states that higher prices raise the quantity supplied .

The price elasticity of supply measures how much the quantity supplied respond to change in the price

* If supply is elastic producer can increase their output without a wise in cost or sometime time also delay .

* price of elasticity enable to producer to change in their amount of the good they produce

* price of  elasticity of supply can be calculated as 

%change in inequality supplied

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% change in price 

So by this we can easliy calculated .

 * The main objective of price elasticity of supply *

* If supplies have time to respond to a price change.

* Generally supply of a good said to be elastic if the quantity supplied resopnds substantially to change in the price .

* Supply is said to be in elastic if the quantity suppdlied respond only slightly to change in price .