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1. In your opinion, what do you think are the common thing that is found in all the elasticity types?
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25 votes
25 votes
1. In your opinion, what do you think are the common thing that is found in all the elasticity

types?

User Andrew Steitz
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1 Answer

20 votes
20 votes

Answer:

Elasticity is an economic concept used to measure the change in the aggregate quantity demanded of a good or service in relation to price movements of that good or service. A product is considered to be elastic if the quantity demand of the product changes more than proportionally when its price increases or decreases

User Miguel Durazo
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