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What is elasticity?
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In business and economics, elasticity refers to the degree to which individuals, consumers or producers change their demand or the amount supplied in response to price or income changes. It is predominantly used to assess the change in consumer demand as a result of a change in a good or service's price.
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ELASTICITY - the ability of an object or material to resume its normal shape after being stretched or compressed; stretchiness.
the ability of an object or material to resume its normal shape after being stretched or compressed; stretchiness."aging can decrease the elasticity of your skin"
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