what ment by elasticity and ampitude
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- 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.
- the maximum extent of a vibration or oscillation, measured from the position of equilibrium.
- "the amplitude of alpha rhythms"
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Elasticity: 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.
Amplitude: Amplitude is the maximum displacement or distance moved by a point on a vibrating body or wave measured from its equilibrium position. It is equal to one-half the length of the vibration path.
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