Elasticity: Difference between revisions

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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.


See also