A measure of responsiveness of one economic variable to another -- usually the responsiveness of quantity to price along a supply or demand curve -- comparing percentage changes (%D) or changes in logarithms (d ln). The arc elasticity of x with respect to y is e = %Dx/%Dy. The point elasticity is e = d lnx/d lny = (y/x)(dx/dy).
Browse by Subjects
See All Related Terms »
least developed country
American Psychological Association (APA):
Chicago Manual of Style (CMS):
Modern Language Association (MLA):