In economics, **elasticity** is the ratio of the proportional change in one variable with respect to proportional change in another variable. **Price elasticity**, for example, is the sensitivity of quantity demanded or supplied to changes in prices. Elasticity is usually expressed as a negative number but shown as a positive percent value.

This article provides information about the following:

* Applications

* Mathematical definition

* Examples

* Importance

Format: HTML | Size: —

Source: Wikipedia

Category: Managerial Economics