1 Answer
Elasticity is one of the most important concepts in neoclassical economic theory. It is useful in understanding the incidence of indirect taxation, marginal concepts as they relate to the theory of the firm, and distribution of wealth and different types of goods as they relate to the theory of consumer choice. Elasticity is also crucially important in any discussion of welfare distribution, in particular consumer surplus, producer surplus, or government surplus. http://en.wikipedia.org/wiki/Elasticity_(economics)
10 years ago. Rating: 2 | |
Top contributors in Economics category
Unanswered Questions
vnnnew88
Answers: 0
Views: 13
Rating: 0
ManClub web
Answers: 0
Views: 15
Rating: 0
ManClub web
Answers: 0
Views: 12
Rating: 0
7ball
Answers: 0
Views: 17
Rating: 0
7ball
Answers: 0
Views: 14
Rating: 0
abd
Answers: 0
Views: 17
Rating: 0
ku19dev
Answers: 0
Views: 13
Rating: 0
55win55info
> More questions...
Answers: 0
Views: 17
Rating: 0