noun
the quality of being elastic; the ability of an object or material to resume its shape after being stretched or compressed
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The concept of price elasticity of demand measures how sensitive consumers are to changes in price.
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I heard that the elasticity of that rubber band is really strong.
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I can't believe the elasticity of those leggings, they are so stretchy!
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The elasticity of her schedule allowed her to easily adapt to last-minute changes.