Cryptocurrency Q&A
What is the concept of elasticity?
What is the concept of elasticity?
Giuseppe
Fri Jan 17 2025
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7 answers
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I'm trying to understand the concept of elasticity. I know it has something to do with how sensitive something is to changes, but I'm not sure exactly what it means in an economic context.
7 answers
Maria
Sun Jan 19 2025
Marketers and economists often rely on this concept to understand market dynamics.
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IncheonBlues
Sun Jan 19 2025
Elasticity serves as a fundamental economic concept.
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Stefano
Sun Jan 19 2025
Specifically, elasticity is employed to gauge how demand for a product fluctuates.
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Caterina
Sun Jan 19 2025
It is utilized to measure the sensitivity of one variable to alterations in another.
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KatanaSharpness
Sun Jan 19 2025
This assessment is made in response to changes in the product's pricing.
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