Unitary elastic supply
What Unitary elastic supply means in Economics GCSE, as defined for AQA, OCR.
Definitions of Unitary elastic supply
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Reference: AQA
When the percentage changes in price and quantity supplied are exactly equivalent.
Where the percentage change in quantity supplied is exactly equal to the percentage change in price. The PES value is equal to 1.
Topics that use Unitary elastic supply
- Price elasticity of supply (AQA GCSE)
- Supply (OCR GCSE)
Related terms
- Price elastic supply
- Price inelastic supply
- Consumer affordability
- Factor mobility
- Price elasticity of supply
- Production capacity
- Spare capacity
- Time periods
Using Unitary elastic supply in the exam
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