Answer to Question #53578 in Microeconomics for tope ogunsola

Question #53578
What is elasticity?
1
Expert's answer
2015-07-23T00:00:42-0400
In economics, elasticity is the measurement of how responsive an economic variable is to a change in another. Elasticity can be quantified as the ratio of the percentage change in one variable to the percentage change in another variable, when the latter variable has a causal influence on the former.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS
paypal