Demand elasticity


 

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Demand elasticity

Normally the price elasticity of demand. References to other elasticities of demand, such as the income elasticity are normally explicit. See import demand elasticity.



Similar Matches

Elasticity of substitution

Elasticity of substitution

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). With competitive demands, this is also the elasticity with respect to their price ratio. For example, with factors L,K and factor prices w,r, the elasticity of substitution of a production function F(K,L) is s = (wL/rK)d(K/L)/d(w/r).


Import demand elasticity

Import demand elasticity

The elasticity of demand for imports with respect to price.


Import elasticity

Import elasticity

Usually means the import demand elasticity.


Elasticity

Elasticity

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).


Arc elasticity

Arc elasticity

See elasticity


Further Suggestions

Cross elasticity
Income elasticity
Supply elasticity
Constant elasticity of substitution function
Elasticity of demand for exports
Elasticity of demand for imports
Price elasticity
Point elasticity
Armington elasticity


 
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