LESSON OBJECTIVE: are shared with the student for awareness and expectation of lesson outcome.
At the end of the lesson, the students will be able to;
- Define price elasticity of supply (PES). Calculate PES using the formula and interpreting the significance of the result. Draw and interpret supply curve diagrams to show different PES.
Determinants of PES - The key influences on whether supply is elastic or inelastic. Significance of PES - The implications for decision making by consumers, producers and government.
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