Le Chatelier principle


Also found in: Thesaurus, Medical, Encyclopedia, Wikipedia.
ThesaurusAntonymsRelated WordsSynonymsLegend:
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. Thus, as would be expected, these results strongly suggest that the demand for imports is more responsive to both own and other input price changes in the long run than in the short run.