CIRS and Elasticity: Difference between pages
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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 == | == See also == | ||
* [[ | * [[Income elasticity of demand]] | ||
* [[Price elasticity of demand]] | |||
* [[Price elasticity of supply]] | |||
* [[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.