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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.
Elasticity is an important concept in neoclassical economic theory, and enables in the understanding of various economic concepts, such as the incidence of indirect taxation, marginal concepts relating to the theory of the firm, distribution of wealth, and different types of goods relating to the theory of consumer choice.
The Gent hyperelastic material model [1] is a phenomenological model of rubber elasticity that is based on the concept of limiting chain extensibility. In this model, the strain energy density function is designed such that it has a singularity when the first invariant of the left Cauchy-Green deformation tensor reaches a limiting value .
Relatively elastic supply: This is when the E s formula gives a result above one, meaning that when there is a change in price, the percentage change in supply is higher than the percentage change in price. Using the above example to show an elastic supply, when there is a 10% increase in price there will be more than a 10% increase in supply. [8]
In continuum mechanics, an Arruda–Boyce model [1] is a hyperelastic constitutive model used to describe the mechanical behavior of rubber and other polymeric substances. This model is based on the statistical mechanics of a material with a cubic representative volume element containing eight chains along the diagonal directions.
Yeoh model prediction versus experimental data for natural rubber. Model parameters and experimental data from PolymerFEM.com. The Yeoh hyperelastic material model [1] is a phenomenological model for the deformation of nearly incompressible, nonlinear elastic materials such as rubber.
An increase in unit price will tend to lead to fewer units sold, while a decrease in unit price will tend to lead to more units sold. For inelastic goods, because of the inverse nature of the relationship between price and quantity demanded (i.e., the law of demand), the two effects affect total revenue in opposite directions.
Supply chain as connected supply and demand curves. In microeconomics, supply and demand is an economic model of price determination in a market.It postulates that, holding all else equal, the unit price for a particular good or other traded item in a perfectly competitive market, will vary until it settles at the market-clearing price, where the quantity demanded equals the quantity supplied ...