Elasticity

From CNM Wiki

Jump to: navigation, search

Elasticity is how much a percentage change in quantity demanded or quantity supplied is affected by a percentage change in price.

Definition

According to Principles of Economics by Timothy Taylor (3rd edition),

Elasticity. How much a percentage change in quantity demanded or quantity supplied is affected by a percentage change in price.

According to Macroeconomics by Mankiw (7th edition),

Elasticity. The percentage change in a variable caused by a 1-percent change in another variable.

Retrieved from "https://pravka.bskol.com/w/index.php?title=Elasticity&oldid=50229"