Meaning elasticity coefficient
What does elasticity coefficient mean? Below you find one meaning for the word elasticity coefficient You can also add a definition of elasticity coefficient yourself
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elasticity coefficient1. A measure of the responsiveness of the quantity of a product taken in the market to price changes. 2. (technical definition) E is the limit as the change in price tends to zero of a ratio composed of two ratios: the change in quantity/quantity, divided by change in price/price. E is al-ways negative: if the absolute value of E is greater than on [..]
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