Outrageously Funny Word Dictionary :: Elasticities

👉 Elasticity is a measure of how much a material will return to its original shape or size when it is compressed, stretched, or deformed. It is often used in economics and engineering contexts to describe changes in price elasticity of demand for an item or service. The key concept behind elasticity is that the quantity demanded (Qd) of a good or service is directly proportional to its price (P), and inversely proportional to its unit price (P1). When these two quantities are multiplied

elasticities