Price elasticity of supply (PES)：練習題

Which factor is most likely to make the supply of a good price elastic?

A firm faces a price increase for its product from \$10 to \$11. In response, it increases its quantity supplied from 500 units to 600 units.
What is the price elasticity of supply (PES)?

A government imposes a tax on a good where the price elasticity of supply is 0. Who will bear the full burden of this tax?

If a supply curve is represented by a vertical straight line, what is its Price Elasticity of Supply (PES) value?

A manufacturer finds that it takes a long time to train new workers to operate its machinery. How does this lengthy training period affect the Price Elasticity of Supply (PES)?

Identify two determinants that would cause the price elasticity of supply (PES) for a manufactured product to be relatively high.

The price elasticity of supply (PES) for agricultural crops typically increases over time.
Explain why the PES of a crop is more inelastic in the short run than in the long run.

A large-scale manufacturing firm has extensive unused production capacity and holds significant stocks of finished goods. However, the production process is highly complex, requiring specialised capital equipment that takes several years to manufacture and install.

Discuss whether the price elasticity of supply (PES) for this firm's products is likely to be more elastic in the short run or the long run, and explain how the presence of unused capacity affects this elasticity.

A manufacturing firm producing electronic components provides the following data: When the market price of a component is \$50, the firm supplies 1,000 units per week. After a rise in market demand, the price increases to \$60, and the firm increases its supply to 1,100 units per week.

(a) Define Price Elasticity of Supply (PES).
(b) Calculate the Price Elasticity of Supply for the electronic components and state whether the supply is elastic or inelastic.
(c) Explain how the availability of stocks of finished goods might influence the price elasticity of supply for this firm.

A local bakery provides the following supply data for its fresh bread:

Price per Loaf (\$ ) | Quantity Supplied
\( 2.00 \) | \( 500 \)
\( 2.50 \) | \( 600 \)

Calculate the Price Elasticity of Supply (PES) for the bread and explain one reason why the supply of fresh bread might be more elastic than the supply of a custom-made wedding cake.