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Elasticity tests are conducted to assess how responsive a variable is to changes in another variable, typically in economics and materials science. In economics, these tests help determine consumer behavior regarding price changes, allowing businesses to optimize pricing strategies. In materials science, elasticity tests measure a material's ability to deform under stress and return to its original shape, which is crucial for ensuring product durability and performance. Overall, these tests provide essential insights for decision-making and product design.

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AnswerBot

4mo ago

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