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An example of semi-elasticity is modified duration in bond trading. The opposite definition is sometimes used in the literature. That is, the term "semi-elasticity" is also sometimes used for the change (not percentage-wise) in f(x) in terms of a percentage change in x [ 9 ] which would be
An example in microeconomics is the constant elasticity demand function, in which p is the price of a product and D(p) is the resulting quantity demanded by consumers.For most goods the elasticity r (the responsiveness of quantity demanded to price) is negative, so it can be convenient to write the constant elasticity demand function with a negative sign on the exponent, in order for the ...
K(t) is the creep function; F(t) is the relaxation function; Linear viscoelasticity is usually applicable only for small deformations. Nonlinear viscoelasticity is when the function is not separable. It usually happens when the deformations are large or if the material changes its properties under deformations. Nonlinear viscoelasticity also ...
A good with an elasticity of −2 has elastic demand because quantity demanded falls twice as much as the price increase; an elasticity of −0.5 has inelastic demand because the change in quantity demanded change is half of the price increase. [2] At an elasticity of 0 consumption would not change at all, in spite of any price increases.
Contact mechanics is the study of the deformation of solids that touch each other at one or more points. [1] [2] A central distinction in contact mechanics is between stresses acting perpendicular to the contacting bodies' surfaces (known as normal stress) and frictional stresses acting tangentially between the surfaces (shear stress).
In continuum mechanics, the Michell solution is a general solution to the elasticity equations in polar coordinates (,) developed by John Henry Michell in 1899. [1] The solution is such that the stress components are in the form of a Fourier series in .
Stress functions are derived as special cases of this Beltrami stress tensor which, although less general, sometimes will yield a more tractable method of solution for the elastic equations. Beltrami stress functions
The SI unit for elasticity and the elastic modulus is the pascal (Pa). This unit is defined as force per unit area, generally a measurement of pressure, which in mechanics corresponds to stress. The pascal and therefore elasticity have the dimension L −1 ⋅M⋅T −2.