Question

Define elasticity?? Points Donation......​

Answer 1

In business and economics, elasticity refers 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.

Answer 2

Elasticity is an object's ability to resume it's normal shape after being stretched or compressed .

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