Elasticity, Microeconomics

Elasticity is a term broadly used in economics to signify the “responsiveness of one variable to changes in to another.”

Types of Elasticity can be explained as follows:

There are four major types of elasticity which are stated below:

Price Elasticity of the Demand.

Price Elasticity of the Supply.

Income Elasticity of the Demand.

Cross-Price Elasticity of the Demand.

Posted Date: 7/19/2012 3:52:51 AM | Location : United States







Related Discussions:- Elasticity, Assignment Help, Ask Question on Elasticity, Get Answer, Expert's Help, Elasticity Discussions

Write discussion on Elasticity
Your posts are moderated
Related Questions
Supply of a commodity is functionally related to its price. The law of supply rated to this function relationship between price of a commodity and its supply. In contrast to the in

Examine the role of foreign direct investment (FDI) for developing countries Explanation of foreign direct investment as the direct ownership of capital in another country by a

What is the difference between indifference curve and isoquants?  An indifference curve shows dissimilar combinations which a consumer can buy with a given level of income. Ind

what are tne methots of demand forecasting ?

1.  How does the marginal social benefit curve of a common resource compare to the marginal social benefit curve of positive externality from a mixed good? Highlight the difference

what is a sub game perfect Nash equilibrium

The monetary calculate of the welfare associated with the change in the provision of some good. It is not to be confused with monetary value, unless the latter is explicitly desig

Using commodities as an example, explain the factors influencing the PES for such goods. The basic determinants of PES are time span included and the availability of producer s

Impact of government legislations on business in india Government in India plays a dominant role in the Indian business activity. It directs and regulates the private business and

Q. Role of Monetary Policy? Monetary Policy: Monetary policy reflects the use by government and government agencies (mainly the central bank) of interest rate adjustments and o