A-level经济学知识点——供应的价格弹性Price Elasticity of Supply

Price elasticity of supply measures the responsiveness of quantity supplied to a change in price. 供应的价格弹性衡量的是供应量对价格变化的反应能力。

The price elasticity of supply (PES) is measured by % change in Q.S divided by % change in price. 供应的价格弹性（PES）是由Q.S的百分比变化除以价格的百分比变化来衡量。

If the price of a cappuccino increases by 10%, and the supply increases by 20%. We say the PES is 2.0. 如果一杯卡布奇诺的价格增加10%，而供应量增加20%。我们说PES是2.0。
If the price of bananas falls 12% and the quantity supplied falls 2%. We say the PES = 2/12 = 0.16 如果香蕉的价格下降12%，供应量下降2%。我们说PES=2/12=0.16

Inelastic supply 无弹性供应 – a change in price causes a smaller proportional change in quantity supply 价格的变化导致供应量的较小比例变化
Elastic supply 弹性供应 – a change in price causes a bigger proportional change in supply 价格的变化导致供应量的较大比例变化

Inelastic supply 无弹性供应

This means that an increase in price leads to a smaller % change in supply. Therefore PES <1 这意味着，价格的增加会导致供应量的较小比例变化。因此PES<1

In this case the PES =

Supply could be inelastic for the following reasons 由于以下原因，供应可能是没有弹性的

Firms operating close to full capacity. 企业经营能力接近满负荷
Firms have low levels of stocks, therefore there are no surplus goods to sell. 企业的库存水平较低，因此没有多余的货物可以出售。
In the short term, capital is fixed in the short run e.g. firms do not have time to build a bigger factory. 在短期内，资本是固定的，例如，企业没有时间建造更大的工厂。
If it is difficult to employ factors of production, e.g. if highly skilled labour is needed 如果难以雇用生产要素，例如，如果需要高技术劳动力
With agricultural products, supply is inelastic in the short run, because it takes at least six months to grow new crops. In September the farmer cannot suddenly produce more potatoes if the price goes up. 对于农产品，短期内的供应是没有弹性的，因为种植新的作物至少需要六个月的时间。在9月份，如果价格上涨，农民不可能突然生产更多的土豆。

Examples of goods with inelastic supply 无弹性供应的商品的例子

Nuclear reactors 核反应堆 – It takes considerable time and expertise to build a new reactor. If there is high demand, few firms would be able to increase output in quick time 建造一个新的反应堆需要大量时间和专业知识。如果有很高的需求，很少有公司能在短时间内增加产量。
Grapes 葡萄 – Harvest is once a year, so in short-term, supply would be very inelastic. 每年收割一次，所以在短期内，供应会非常缺乏弹性。
Flood defences 防洪设施 – If there is heavy rainfall and flooding, there would be high demand for flood defences. But, to supply barriers against the floods cannot occur overnight. It will take many months of construction to build. 如果出现暴雨和洪水，对防洪设施的需求就会很高。但是，提供抵御洪水的屏障不可能在一夜之间发生。它将需要许多个月的施工来建造。
During an economic boom when demand for the goods is very high and firm is running out. 在经济繁荣时期，对商品的需求非常高，而公司却在不断流失。

Elastic supply 弹性供应

This occurs when an increase in price leads to a bigger % increase in supply, therefore PES >1 这发生在价格的增加导致了更大比例的供应增加，因此PES>1。

Supply could be elastic for the following reasons 供应可能是有弹性的，原因如下

If there is spare capacity in the factory. 如果工厂有多余的产能
If there are stocks available. 如果有库存可用
In the long run, supply will be more elastic because capital can be varied. 从长远来看，供应会更有弹性，因为资本可以变化。
If it is easy to employ more factors of production. 如果很容易雇用更多的生产要素。
If a product can be sold from the internet which increases the scope of international competition and increases options for supply. 如果产品可以从互联网上销售，这增加了国际竞争的范围，增加了供应的选择。

Examples of goods with elastic supply 具有弹性供应的商品的例子

Fidget spinners 小玩意旋转器. These goods are relatively easy to make, requiring only basic raw materials of plastic. Many manufacturing firms could easily adapt production to increase supply. 这些商品相对容易制造，只需要塑料的基本原料。许多制造公司可以很容易地调整生产以增加供应。
Taxi services 出租车服务. It is relatively easy for people to work as a taxi driver. People can work part-time and only need a qualified driving license. With mobile apps like Uber, it has also become easier to fit consumers with a broader range of options. If price rises, Uber can offer higher wages and encourage more people to come out to work. There are still some supply constraints on very popular days. But, mostly, supply is quite elastic. 人们做出租车司机是相对容易的。人们可以兼职工作，只需要一个合格的驾驶执照。有了像Uber这样的移动应用程序，它也变得更容易适合消费者的更广泛的选择。如果价格上涨，Uber可以提供更高的工资，鼓励更多人出来工作。在非常受欢迎的日子里，仍然存在一些供应限制。但是，大多数情况下，供应是相当有弹性的。
During recession and excess supply. In a recession with a fall in demand, the firm will have unsold goods and a large stock. 在经济衰退和供应过剩期间。在需求下降的经济衰退中，公司会有未售出的货物和大量库存。

Importance of elasticity of supply 供应弹性的重要性

If supply is elastic, an increase in demand will cause only a small rise in price, but a significant increase in demand. 如果供给是有弹性的，需求的增加将只引起价格的小幅上涨，但需求的大幅增加。
If supply is inelastic, an increase in demand will cause a large rise in price but only a small increase in demand. 如果供给是无弹性的，需求的增加将引起价格的大幅上涨，但需求的增加却很小。

Question on the price elasticity of supply equation 关于供给价格弹性方程的问题

If the PES is 2.0 for CDS: and the firm supplied 4,000 when the price was £30. 如果CDS的PES为2.0：而当价格为30英镑时，该公司供应了4,000。

Q. If the price increased from £30 to £36, what will be the new Q? 如果价格从30英镑增加到36英镑，新的Q值将是多少？

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