How elasticity is always referred to as a positive value even though it can be negative? 

In economics, elasticity is measures of the incremental percentage change in single variable with respect to an incremental percentage alter in another variable. Elasticity is almost always referred to as a positive value, meaning that people use the absolute value in the case of a part of elasticity that is normally negative. 

 

Posted Date: 8/1/2013 6:14:12 AM | Location : United States

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