Question

This quantity names a class of production functions introduced by Robert Solow and popularized by Kenneth Arrow. The Prebisch–Singer hypothesis implies that this quantity is higher for primary goods than manufactured goods. Ragnar Frisch’s work on labor supply led him to formulate a namesake type of this quantity. This quantity gives an alternate name for an econometric log-log model, since it can be expressed as a ratio of logged variables. Firms can maximize profits when negative one over this quantity equals the (*) Lerner Index. The “cross-price” (10[1])type of this quantity is positive for substitutes and negative for complements. (-5[1])This quantity is measured by the slope of the (-5[1])demand curve. For 10 points, name this quantity that represents an economic variable’s resistance to change. ■END■ (10[1]0[3])

ANSWER: elasticity [accept elasticity of demand, price elasticity of demand, or income elasticity of demand; accept cross-price elasticity; accept Frisch elasticity; accept Solow–Arrow elasticity]
<RR, Social Science>
= Average correct buzz position

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Buzzes

PlayerTeamOpponentBuzz PositionValue
Arhith DharanendraGeorgia Tech DMilton8510
Samanyu BhupalamInnovation Academy BLambert97-5
Quentin MotGeorgia Tech BGeorgia Tech C106-5
Louis HarneyGeorgia Tech CGeorgia Tech B1230
Towery McNeilMississippi StateInnovation Academy C1230
Jacob RosenbergInnovation Academy CMississippi State1230
Sanjay Shanmuga PerumalLambertInnovation Academy B12310

Summary

2024 ARCADIA at Waterloo2024-11-09Y1100%0%0%92.00
2024 ARCADIA at Illinois2024-11-09Y1100%0%0%83.00
2024 ARCADIA at UC Berkeley2024-12-06Y2100%0%50%118.50
2024 ARCADIA at GT2024-12-06Y450%0%50%104.00
2024 ARCADIA at Warwick2024-12-06Y5100%0%0%101.40