Coefficient of Elasticity Calculator

Formula

The formula to calculate the Coefficient of Elasticity (E) is:

$\text{E} = \frac{\text{Q}}{\text{P}}$

Where:

E – The coefficient of elasticity.
Q – The percentage change in quantity demanded.
P – The percentage change in price.

Definition

Coefficient of Elasticity (E): Measures the responsiveness of the quantity demanded of a good to a change in its price.
Percentage Change in Quantity Demanded (Q): The percentage change in the quantity of the good demanded.
Percentage Change in Price (P): The percentage change in the price of the good.

Example

Let's say the percentage change in quantity demanded (Q) is 10% and the percentage change in price (P) is 5%. Using the formula:

$\text{E} = \frac{10}{5} = 2$

So, the coefficient of elasticity is 2, indicating that demand is relatively elastic.

Extended information about Coefficient-of-Elasticity-Calculator

Extended information about Price Elasticity Coefficient Calculator

Definition: The price elasticity coefficient measures the responsiveness of the quantity demanded of a good to a change in its price.

Formula: $E_p = \frac{\Delta Q / Q}{\Delta P / P}$

$E_p$ : Price Elasticity Coefficient
$\Delta Q$ : Change in quantity demanded
$Q$ : Initial quantity demanded
$\Delta P$ : Change in price
$P$ : Initial price

Example: $E_p = \frac{20 / 100}{5 / 50}$

$\Delta Q$ : 20 units
$Q$ : 100 units
$\Delta P$ : $5
$P$ : $50

Extended information about Coefficient of Elasticity (Physics)

Definition: The coefficient of elasticity in physics measures the stiffness of a material, defined as the ratio of stress to strain.

Formula: $E = \frac{\sigma}{\epsilon}$

$E$ : Coefficient of Elasticity (Young's Modulus)
$\sigma$ : Stress
$\epsilon$ : Strain

Example: $E = \frac{200}{0.01}$

$\sigma$ : 200 N/m²
$\epsilon$ : 0.01

Extended information about Coefficient of Price Elasticity Formula

Definition: The coefficient of price elasticity measures the responsiveness of the quantity demanded or supplied of a good to a change in its price.

Formula: $E_p = \frac{\Delta Q / Q}{\Delta P / P}$

$E_p$ : Price Elasticity Coefficient
$\Delta Q$ : Change in quantity demanded or supplied
$Q$ : Initial quantity demanded or supplied
$\Delta P$ : Change in price
$P$ : Initial price

Example: $E_p = \frac{30 / 150}{10 / 60}$

$\Delta Q$ : 30 units
$Q$ : 150 units
$\Delta P$ : $10
$P$ : $60

Extended information about Coefficient of Elasticity Dimensional Formula

Definition: The dimensional formula of the coefficient of elasticity is derived from its definition as the ratio of stress to strain.

Formula: $[E] = \frac{[M L^{-1} T^{-2}]}{[L L^{-1}]} = [M L^{-1} T^{-2}]$

$[E]$ : Dimensional formula of elasticity
$[M]$ : Mass
$[L]$ : Length
$[T]$ : Time

Example: $[E] = [M L^{-1} T^{-2}]$

$[M]$ : kg
$[L]$ : m
$[T]$ : s

Extended information about Coefficient of Elasticity Unit

Definition: The unit of the coefficient of elasticity is derived from its formula as the ratio of stress to strain.

Formula: $E = \frac{\sigma}{\epsilon}$

$E$ : Coefficient of Elasticity (Young's Modulus)
$\sigma$ : Stress (N/m²)
$\epsilon$ : Strain (dimensionless)

Example: $E = \frac{300}{0.02}$

$\sigma$ : 300 N/m²
$\epsilon$ : 0.02