Elasticity (economics)
In economics, elasticity is the ratio of the incremental percentage change in one variable with respect to an incremental percentage change in another variable. Elasticity is usually expressed as a positive number (i.e., an absolute value) when the sign is already clear from context.
Related Topics:
Economics - Absolute value
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~ Table of Content ~
| ► | Introduction |
| ► | Generalised cases |
| ► | Mathematical definition |
| ► | Importance |
| ► | See also |
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