Le Chatelier principle


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Noun1.Le Chatelier principle - the principle that if any change is imposed on a system that is in equilibrium then the system tends to adjust to a new equilibrium counteracting the change
principle, rule - a rule or law concerning a natural phenomenon or the function of a complex system; "the principle of the conservation of mass"; "the principle of jet propulsion"; "the right-hand rule for inductive fields"
References in periodicals archive ?
As Table 2 indicates, the estimated long-run direct price elasticities are also higher in absolute value than the corresponding short-run elasticity estimates, as the Le Chatelier principle would require.
These violations of the Le Chatelier principle imply that the short-run adjustments are (slightly) larger than the long-run adjustments with respect to the sub-stitutability of capital and labor.
The estimated long-run cross-price elasticities involving a domestic input and imports are all significantly greater than those for the short run, consistent with the Le Chatelier principle.