Elasticity means responsiveness of one variable to change in another. It shows the degree of a change in a variable due to the change in quantity of another variable. Types include; Price, Income and Cross Elasticity of Demand.
In mathematics, an inverse function (or anti-function) is a function that "reverses" another function: if the function f applied to an input x gives a result of y, then applying its inverse function g to y gives the result x, and vice versa, i.e., f(x) = y if and only if g(y) = x.
In mathematics, an identity function, also called an identity relation or identity map or identity transformation, is a function that always returns the same value that was used as its argument. In equations, the function is given by f(x) = x.