Question

define elasticity plz fast answer me​

Answer 1

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.

Answer 2

Answer:

In economics, elasticity measures the percentage change of one economic variable in response to a change in another. If a good's price elasticity of demand is -2, a 10% increase in price causes the quantity demanded to fall 20%.