Jan 2, 2021 · Elastic is an economic term meant to describe a change in the behavior of buyers and sellers in response to a price change for a good or service. Changes of elasticity are in all cases dependent, not only upon the field, but also upon the tension applied; and, owing to hysteresis, the results are not in general the same when. But if we want to predict which group will bear most of the burden, all we need to do is examine the elasticity of demand and supply. supply elasticity in a sentence In his book " The Intellectual and the Marketplace ", for instance, he proposed " Stigler's Law of Demand and Supply. The parameters and denote the inverse of the consumption and labour supply elasticities.

Supply elasticity in a sentence

A measure of the degree of responsiveness of one variable to changes in another.

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. Cite this lesson. .

43 sentence examples: 1.