Difference between revisions of "Elasticity"
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(New page: 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 ...) |
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Revision as of 03:45, March 29, 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.