Elasticity Measure

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An Elasticity Measure is a rate measure (unitless ratio) of responsiveness of one variable relative to another variable.



References

2014

  1. Hendrik S. Houthakker, Lester D. Taylor (1970).


  • (Wikipedia, 2014) ⇒ http://en.wikipedia.org/wiki/Elasticity_(economics) Retrieved:2014-11-29.
    • In economics, elasticity is the measurement of how responsive an economic variable is to a change in another. For example:
      • "If I lower the price of my product, how much more will I sell?"
      • "If I raise the price of one good, how will that affect sales of this other good?"
      • "If we learn that a resource is becoming scarce, will people scramble to acquire it?"

2011

1970