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Price elastic |
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Price elasticHaving a price elasticity greater than one (in absolute value).Similar MatchesArc elasticityArc elasticitySee elasticity Armington elasticityArmington elasticityThe elasticity of substitution between products of different countries. 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). Elasticity of demand for exportsElasticity of demand for exportsThis is normally the price elasticity of demand for exports of a country, either for a single industry or for the aggregate of all imports. Equals the rest of world's elasticity of demand for imports, which therefore also enters the Marshall-Lerner condition. Cross elasticityCross elasticity1. An elasticity that has been ignored by a student in a problem set. 2. The elasticity of supply or demand for one good or service with respect to the price of another. Further SuggestionsUnit elasticPrice elasticities Demand elasticity Constant elasticity of substitution function Income elastic Inelastic offer curve Income inelastic Perfectly elastic Supply elasticity Price inelastic Elasticities approach Import demand elasticity Elastic Elasticity of demand for imports Inelastic Elastic offer curve Elasticity of substitution Income elasticity Import elasticity Price elasticity Point elasticity |
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