Question

What is elasticity...... and elastic?​

Answer 1

Answer:

In economics, elasticity is the measurement of the percentage change of one economic variable in response to a change in another. An elastic variable is one which responds more than proportionally to changes in other variables

Explanation:

Mark me branlist please

Answer 2

Elasticity :

Elasticity is a measure of a variable's sensitivity to a change in another variable, most commonly this sensitivity is the change in price relative to changes in other factors. ... It is predominantly used to assess the change in consumer demand as a result of a change in a good or service's price.

Elastic :

A product is considered to be elastic if the quantity demand of the product changes drastically when its price increases or decreases. Conversely, a product is considered to be inelastic if the quantity demand of the product changes very little when its price fluctuates.