| Elasticity |
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| CATEGORIES ABOUT ELASTICITY | |
| underlying principles of microeconomic behavior | |
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''Elasticity'' has meanings in two different fields: In (as opposed to Plastic ) Deformation in response to stress. In Economics , elasticity is the proportional change in one Variable relative to the proportion change in another variable. The concept of elasticity can be used whenever there is a cause and effect relationship. The causal variable is often called the independent variable, while the affected variable is called the dependent variable.
Note: in economics, an is still technically called elastic. WIKIBOOKS |
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