elastic

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Related to Elasticity of demand: Elasticity of supply, Income elasticity of demand

elastic

1. (of a body or material) capable of returning to its original shape after compression, expansion, stretching, or other deformation
2. (of gases) capable of expanding spontaneously
3. Physics (of collisions) involving no overall change in translational kinetic energy
4. made of elastic
5. tape, cord, or fabric containing interwoven strands of flexible rubber or similar substance allowing it to stretch and return to its original shape
6. Chiefly US and Canadian something made of elastic, such as a rubber band or a garter

elastic

[i′las·tik]
(mechanics)
Capable of sustaining deformation without permanent loss of size or shape.

elastic

Descriptive of a material having the property of elasticity.
References in periodicals archive ?
Despite the negative aggregate elasticity of demand for Wal-Mart's products, these results imply that a decline in Wal-Mart's revenues during economic booms is a rare event.
And because by definition the income elasticity of demand for a good is the ratio of the percent change in the amount demanded to the percent change in income, the estimated income elasticity of demand for leisure time over those 24 years is 30.
The third estimates the effect of changes in MTR on the minutes of use, giving a partial MTR elasticity of demand.
For example, the price elasticity of demand measures the sensitivity of quantity demanded to price changes.
However, without a better alternative measure, income elasticity of WTP has been used as a proxy for income elasticity of demand in many studies including Kristom and Riera (1996) and Pereyra and Rossi (1999).
Their setup is distinguished by a continuum of firms wherein the elasticity of demand facing each firm must equal the elasticity of substitution.
However, the estimated long-run direct price elasticity of demand for imports is much higher (-0.
The positive sign of the income elasticity of demand indicates that electricity is a normal good.
A related issue is the sensitivity of the quantity demanded to a change in price, that is, by how much the quantity demanded will change for a given change in price, referred to as the price elasticity of demand (Parkin et al.
It seems natural that if S is expressed in percentage terms, the effects on employment can be obtained by multiplying S by the elasticity of demand for labor.
18 kWh/hr), yielding an implicit arc own-price elasticity of demand of--0.
The demand function in 5, for simplicity, is also modeled as a constant elasticity function with speed elasticity of demand for travel of (and a price elasticity of demand for travel (of values 02 for low, 0.