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Import elasticity |
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Import elasticityUsually means the import demand elasticity.Similar MatchesDemand elasticityDemand elasticityNormally the price elasticity of demand. References to other elasticities of demand, such as the income elasticity are normally explicit. See import demand elasticity. 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). Constant elasticity of substitution functionConstant elasticity of substitution functionSee CES function Arc elasticityArc elasticitySee elasticity 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). Further SuggestionsPrice elasticityElasticity of demand for imports Point elasticity Supply elasticity Import demand elasticity Income elasticity Elasticity of demand for exports Cross elasticity Armington elasticity |
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