**Price elasticity of supply**measures how responsive the supply of an item is when the price of the item changes. It is calculated as:

**Price elasticity of supply**= % change in quantity supplied / % change in price

To calculate price elasticity of supply, simply fill in the values below and then click the “Calculate” button.

Price elasticity of supply: **0.471**

**Explanation:**

Price elasticity of supply = % change in quantity supplied / % change in price

Price elasticity of supply = ((400 – 400) / 400) / ((400 – 400) / 400)

Price elasticity of supply = 0.471% / 0.471%

Price elasticity of supply = **0.471**