Elasticity: Difference between revisions

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1.  
1. ''Variance.''


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.  
2. ''Economics.''
 
''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.  
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== See also ==
== See also ==
* [[Income elasticity of demand]]
* [[Income elasticity of demand]]
* [[Normal good]]
* [[Price elasticity of demand]]
* [[Price elasticity of demand]]
* [[Price elasticity of supply]]
* [[Price elasticity of supply]]
* [[Variance]]
* [[Variance]]

Revision as of 09:07, 8 April 2021

1. Variance.

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.


See also