The elasticity coefficient is a measure used in economics to quantify the responsiveness of one variable to changes in another variable. It indicates how much one variable will change when a corresponding change occurs in another variable. There are several types of elasticity coefficients, but they are often used in the context of price elasticity of demand and supply. Here are some common forms: 1. **Price Elasticity of Demand (PED)**: This measures how much the quantity demanded of a good responds to a change in its price.
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