Difference between revisions of "Elasticity"

From Conservapedia
Jump to: navigation, search
m (Reverted edits by Antandrus (Talk); changed back to last version by Tsetse)
m (+ required ')
Line 1: Line 1:
'''Elasticity'' addresses the responsiveness of quantity demanded (or supplied) to changes in price, income, or price of other goods. For example, the price elasticity of demand is computed as percentage change in quantity divided by percentage change in price.
+
'''Elasticity''' addresses the responsiveness of quantity demanded (or supplied) to changes in price, income, or price of other goods. For example, the price elasticity of demand is computed as percentage change in quantity divided by percentage change in price.
  
 
Elasticity may also refer to the stretchiness of a particular object, such as a [[rubber band]].
 
Elasticity may also refer to the stretchiness of a particular object, such as a [[rubber band]].

Revision as of 23:43, June 23, 2007

Elasticity addresses the responsiveness of quantity demanded (or supplied) to changes in price, income, or price of other goods. For example, the price elasticity of demand is computed as percentage change in quantity divided by percentage change in price.

Elasticity may also refer to the stretchiness of a particular object, such as a rubber band.