Discover PES and his meaning
Learn evrything you need about price elasticy of supply
For Price elasticity of supply (PES or Es) we mena the measure that show the elasticity (decribed as elastic if the cofficent is >1 or inelastic if the coefficent is <1), of the quantity supplied of a good or service to a change in its price.
An elasticity of zero indicates that quantity supplied does not respond to a price change: it is "fixed" in supply.
Such goods often have no labor component or are not produced, limiting the short run prospects of expansion. "If the coefficient is exactly one, the good is said to be unitary elastic.
The quantity of goods supplied can, in the short term, be different from the amount produced, as manufacturers will have stocks which they can build up or run down"...But stop talking is time to watch the video and fully understand what PES is and how it works.