Elasticity: Difference between revisions
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imported>Doug Williamson (Layout.) |
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1. | 1. | ||
The degree of responsiveness in one variable to changes in another variable. | The degree of responsiveness in one variable to changes in another variable. | ||
2. ''Economics.'' | |||
2. | |||
''Economics.'' | |||
Typically a percentage change in quantity compared to a percentage change in price. | Typically a percentage change in quantity compared to a percentage change in price. | ||
Commonly used to describe price elasticity of demand and price elasticity of supply. | Commonly used to describe price elasticity of demand and price elasticity of supply. | ||
== See also == | == See also == | ||
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* [[Price elasticity of supply]] | * [[Price elasticity of supply]] | ||
* [[Variance]] | * [[Variance]] | ||
Revision as of 11:39, 11 May 2016
1.
The degree of responsiveness in one variable to changes in another variable.
2.
Economics.
Typically a percentage change in quantity compared to a percentage change in price.
Commonly used to describe price elasticity of demand and price elasticity of supply.
