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.
4 [Price Elasticity] | What Is the Difference Between Price Elasticity and Inelasticity? Elasticity is responsiveness. It is a measure of change to one thing when something that affects it changes. When thinking about elasticity as it relates to business management, it is helpful to think of a rubber band. If the rubber band is elastic, it will stretch when you pull it.