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Import demand elasticity |
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Import demand elasticityThe elasticity of demand for imports with respect to price.Similar MatchesConstant elasticity of substitution functionConstant elasticity of substitution functionSee CES function Elasticity of substitutionElasticity of substitutionThe 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). Price elasticityPrice elasticityThe elasticity of supply or demand with respect to price. Supply elasticitySupply elasticityThe elasticity of a supply function, usually with respect to price. ElasticityElasticityA 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). Further SuggestionsArc elasticityPoint elasticity Cross elasticity Demand elasticity Income elasticity Import elasticity Elasticity of demand for exports Armington elasticity Elasticity of demand for imports |
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