What is Elasticity? (best answer will get marked brainliest)

In economics, elasticity is the measurement of the percentage change of one economic variable in response to a change in another.

An elastic variable (with an absolute elasticity value greater than 1) is one which responds more than proportionally to changes in other variables. In contrast, an inelastic variable (with an absolute elasticity value less than 1) is one which changes less than proportionally in response to changes in other variables. A variable can have different values of its elasticity at different starting points: for example, the quantity of a good supplied by producers might be elastic at low prices but inelastic at higher prices, so that a rise from an initially low price might bring on a more-than-proportionate increase in quantity supplied while a rise from an initially high price might bring on a less-than-proportionate rise in quantity supplied.

Elasticity can be quantified as the ratio of the percentage change in one variable to the percentage change in another variable, when the latter variable has a causal influence on the former. A more precise definition is given in terms of differential calculus. It is a tool for measuring the responsiveness of one variable to changes in another, causative variable. Elasticity has the advantage of being a unitless ratio, independent of the type of quantities being varied. Frequently used elasticities include price elasticity of demand, price elasticity of supply, income elasticity of demand, elasticity of substitution between factors of production and elasticity of intertemporal substitution.

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.

In empirical work an elasticity is the estimated coefficient in a linear regression equation where both the dependent variable and the independent variable are in natural logs. Elasticity is a popular tool among empiricists because it is independent of units and thus simplifies data analysis.

A major study of the price elasticity of supply and the price elasticity of demand for US products was undertaken by Joshua Levy and Trevor Pollock in the late 1960s..

the quality of that something have been able to stretch to its original shape

relativism, roughly put, is the view that truth and falsity, right and wrong, standards of reasoning, and procedures of justification are products of differing conventions and frameworks of assessment and that their authority is confined to the context giving rise to them. more precisely, “relativism” covers views which maintain that—at a high level of abstraction—at least some class of things have the properties they have (e.g., beautiful, morally good, epistemically justified) not simpliciter, but only relative to a given framework of assessment (e.g., local cultural norms, individual standards), and correspondingly, that the truth of claims attributing these properties holds only once the relevant framework of assessment is specified or supplied. relativists characteristically insist, furthermore, that if something is only relatively so, then there can be no framework-independent vantage point from which the matter of whether the thing in question is so can be established.

relativism has been, in its various guises, both one of the most popular and most reviled philosophical doctrines of our time. defenders see it as a harbinger of tolerance and the only ethical and epistemic stance worthy of the open-minded and tolerant. detractors dismiss it for its alleged incoherence and uncritical intellectual permissiveness. debates about relativism permeate the whole spectrum of philosophical sub-disciplines. from ethics to epistemology, science to religion, political theory to ontology, theories of meaning and even logic, philosophy has felt the need to respond to this heady and seemingly subversive idea. discussions of relativism often also invoke considerations relevant to the very nature and methodology of philosophy and to the division between the so-called “analytic and continental” camps in philosophy. and yet, despite a long history of debate going back to plato and an increasingly large body of writing, it is still difficult to come to an agreed definition of what, at its core, relativism is, and what philosophical import it has. this entry attempts to provide a broad account of the many ways in which “relativism” has been defined, explained, defended and criticized.

explanation:

the answer would most likely be c, because if it's a comical piece of information, it may likely not be true, if it's a site that allows anybody to edit the content, it could mean a five year old is typing the info, and if it's a tv show produced by a celeb, it may have a biased opinion.