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Rubber elasticity is the ability of solid rubber to be stretched up to a factor of 10 from its original length, and return to close to its original length upon release. This process can be repeated many times with no apparent degradation to the rubber. [1] Rubber, like all materials, consists of molecules.
In economics, elasticity measures the responsiveness of one economic variable to a change in another. [1] For example, if the price elasticity of the demand of a good is −2, then a 10% increase in price will cause the quantity demanded to fall by 20%.
When the price elasticity of demand is unit (or unitary) elastic (E d = −1), the percentage change in quantity demanded is equal to that in price, so a change in price will not affect total revenue. When the price elasticity of demand is relatively elastic (−∞ < E d < −1), the percentage change in quantity demanded is greater than that ...
In economics, the price elasticity of demand refers to the elasticity of a demand function Q(P), and can be expressed as (dQ/dP)/(Q(P)/P) or the ratio of the value of the marginal function (dQ/dP) to the value of the average function (Q(P)/P). This relationship provides an easy way of determining whether a demand curve is elastic or inelastic ...
In physics and materials science, elasticity is the ability of a body to resist a distorting influence and to return to its original size and shape when that influence or force is removed. Solid objects will deform when adequate loads are applied to them; if the material is elastic, the object will return to its initial shape and size after ...
The elasticity of demand follows the law of demand and its definition. However, there are goods and specific situations that defy the law of demand. Generally, the amount demanded of a good increases with a decrease in price of the good and vice versa.
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 ...
The free energy expression derived from the Neohookean model of rubber elasticity is in terms of free energy change due to deformation per unit volume of the sample. The strand concentration, v, is the number of strands over the volume which does not depend on the overall size and shape of the elastomer. [ 4 ]