What is Price elasticity of supply?

What is the formula for PES?/

What does it mean when PES <1?

What happens when PES>1?

What are the three special cases of supply?

What are the 4 determinants of price elasticity of supply?

Describe llength of time relative to PES

Describe mobility of factors of production relative to PES

Describe spare capacity of firms relative to PES

Describe ability to store stocks relative to PES

Why do primary commodities tend to have lower PES than manufactured goods?

What are 2 consequences of a low PES for primary commodities?

Over the long run what occurs to the PES of agricultural products?