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
ELEMENTARY THEORY OF PRICE FORMATION: DEMAND-SUPPLY ANALYSIS: We discuss the elementary theory of price formation. Demand curve in the market is derived from the aggregate con


What is the distinguishing characteristic of institutions in the public purpose sphere? The distinguishing characteristic of institutions in the public purpose sphere is that t

What is third degree price discrimination? Explain with case analysis,give two successful & unsuccessful cases of 3rd degree price discrimination.


When you drop by the only coffee shop in your neighbourhood, you notice that the price of a cup of coffee has enhanced  considerably since last week.  You decide it's not a big dea

Problem 1: i) To what extent can a country actually rely on the principle of Comparative advantage before engaging in international trade? ii) Explain the different types

Question : (a) Differentiate between the characteristics of a perfectly competitive market and those of a monopoly market structure. (b) To what extent is a monopoly mark

In the following article , I want you to comment on the type of market structure and whether Kinked Demand apply and what will possibly be the market share for GM and VW? ""In case

How might governments lower the natural rate of unemployment? An easy way to organise the answer is to separate possible solutions into two broad groups; interventionist and m