elasticity
81Cost-plus pricing with elasticity considerations — One of the most common pricing methods used by firms is cost plus pricing. In spite of its ubiquity, economists rightly point out that it has serious methodological flaws. It takes no account of demand. There is no way of determining if potential …
82Arc Elasticity — The elasticity of one variable with respect to another between two given points. It is used when there is no general function to define the relationship of the two variables. Arc elasticity is also defined as the elasticity between two points on… …
83income elasticity of demand — ➔ elasticity of demand * * * income elasticity of demand UK US noun [U] ► ECONOMICS the degree to which the number of products bought changes when income changes: » In Japan, the income elasticity of demand for exports is far higher than for… …
84Price elasticity of supply — In economics, the price elasticity of supply is defined as a numerical measure of the responsiveness of the quantity supplied of product (A) to a change in price of product (A) alone. :E s = frac{% mbox{change in quantity supplied{% mbox{change… …
85Rubber Elasticity — Rubber elasticity, also known as hyperelasticity, describes the mechanical behavior of many polymers, especially those with crosslinking. Invoking the theory of rubber elasticity, one considers a polymer chain in a crosslinked network as an… …
86Energy elasticity — is a term used with reference to the energy intensity of Gross Domestic Product. It is the percentage change in energy consumption to achieve one per cent change in national GDP . This term has been used when describing sustainable growth in the… …
87Cross Elasticity Of Demand — An economic concept that measures the responsiveness in the quantity demand of one good when a change in price takes place in another good. The measure is calculated by taking the percentage change in the quantity demanded of one good, divided by …
88modulus of elasticity — noun (physics) the ratio of the applied stress to the change in shape of an elastic body • Syn: ↑coefficient of elasticity, ↑elastic modulus • Topics: ↑physics, ↑natural philosophy • Hypernyms: ↑ …
89Modulus of elasticity — Modulus Mod u*lus, n.; pl. {Moduli}. [L., a small measure. See {Module}, n.] (Math., Mech., & Physics) A quantity or coefficient, or constant, which expresses the measure of some specified force, property, or quality, as of elasticity, strength,… …
90Frisch elasticity of labor supply — The Frisch elasticity of labor supply is defined as the elasticity of the labor supply with respect to wage leaving constant the marginal utility of consumption.The Frisch elasticity in the United States is estimated at one half …
