Pin It. View Slideshow Â»Â». Fun in the sun! Celebrity trainer Jillian Michaels and her partner Heidi Rhoades hit the beach with their two children â daughter Lukensia, 3, and 18-month-old son Phoenix â in Miami, Florida on Tuesday (November 12).
Elasticity is the ratio of the % change in quantity to the % change in price. So if the two are identical, than it is said to be unitary elastic. If quantity changes more than price, then it is said to be elastic. If the quantity changes less than price, then it is said to be inelastic.
Elasticity is a branch of physics which studies the properties of elastic materials. A material is said to be elastic if it deforms under stress (e.g., external forces). Thus, elasticity is a physical property of materials which return to their original shape and size after the stress that caused their deformation is no longer applied.