elasticity
31elasticity — elastic ► ADJECTIVE 1) able to resume normal shape spontaneously after being stretched or squeezed. 2) flexible and adaptable. ► NOUN ▪ cord, tape, or fabric which returns to its original length or shape after being stretched. DERIVATIVES… …
32elasticity — noun the tendency of a body to return to its original shape after it has been stretched or compressed (Freq. 3) the waistband had lost its snap • Syn: ↑snap • Ant: ↑inelasticity • Derivationally related forms: ↑elastic …
33Elasticity of substitution — is the elasticity of the ratio of two inputs to a production (or utility) function with respect to the ratio of their marginal products (or utilities). It measures the curvature of an isoquant.Mathematical definitionLet the utility over… …
34Elasticity of complementarity — (Hamermesh, 1993) is the percentage responsiveness of relative factor prices to a 1 percent change in relative inputs.Mathematical definitionGiven the production function f(x 1,x 2) then the elasticity of complementarity is defined as: c = frac… …
35elasticity of substitution — elasˌticity of substiˈtution noun [uncountable] ECONOMICS the degree to which one input can be replaced by another. For example, in producing goods, if the cost of wages increases and the cost of machinery and capital used to pay for it stays the …
36elasticity of volume — elasticity of volume, the tendency of liquids and gases to return to their original volume when the deforming force is released; resistance to change of volume. The slightest force can change their shape, but no force is great enough to change… …
37Elasticity (economics) — Economics …
38elasticity of demand — The degree of buyers responsiveness to price changes. Elasticity is measured as the percent change in quantity divided by the percent change in price. A large value (greater than 1) of elasticity indicates sensitivity of demand to price, e.g.,… …
39Elasticity of a function — In mathematics, elasticity of a positive differentiable function f at point x is defined as:Ef(x) = frac{x}{f(x)}f (x) = frac{d log f(x)}{d log x}It is the ratio of the incremental change of the logarithm of a function with respect to an… …
40Elasticity (physics) — A material is said to be elastic if it deforms under stress (e.g., external forces), but then returns to its original shape when the stress is removed. The amount of deformation is called the strain. Modeling elasticity The elastic regime is… …
