PPT-Elasticity and its Applications

Chapter 5 Outline The Elasticity of Demand Applications of Demand Elasticity The Elasticity of Supply Applications of Supply Elasticity Using Elasticities for Quick Predictions Appendix . Elasticity The Responsiveness of Demand and Supply Instructor J INKOOK EE Department of Economics Texas AM University ECON 202 504 Principles of Microeconomics brPage 2br Price Elasticity of Demand Elasticity and Total Revenue Other Demand Elastic Two-Dimensional Formulation. Three-dimensional elasticity problems . are . difficult . to . solve. Thus we first develop governing equations for two-dimensional problems, and explore four different theories:. Body and Surface Forces. (b) Sectioned Axially Loaded Beam . . Surface Forces: . T. (. x. ). S. (a) Cantilever . Beam Under Self-Weight Loading. Body Forces: . F. (. x. ). Elasticity. . Theory, Applications and . Two-Dimensional Problem Solution. Using Airy Stress Function approach, plane elasticity formulation with zero body forces reduces to a single governing biharmonic equation. . In Cartesian coordinates it is given by. Formulation and Solution Strategies. Review of Basic Field Equations. Compatibility . Relations. Strain-Displacement Relations. Equilibrium . Equations. Hooke’s . L aw. 15 Equations for 15 Unknowns . Linear Elastic Solids. Linear Elastic Constitutive Solid Model. Develop Force-Deformation Constitutive Equation in the Form of Stress-Strain Relations Under the Assumptions:. . Solid Recovers Original Configuration When Loads Are Removed.  . Elasticity measures the degree of one variable’s dependence on another variable, or the “sensitivity” of one variable to a change in another variable. .  . While calculating elasticity, changes are expressed in relative (percentage) terms. . A measure of the responsiveness of one variable (usually quantity demanded or supplied) to a change in another variable. Most commonly used elasticity: price elasticity of demand, defined as:. Elasticity. Extension, Torsion and Flexure . of Elastic Cylinders. Prismatic Bar Subjected to End . Loadings. Semi-Inverse Method. Elasticity. . Theory, Applications and . Numerics. M.H. . Sadd. , . University of Rhode Island. Two-Dimensional Problem Solution. Using Airy Stress Function approach, plane elasticity formulation with zero body forces reduces to a single governing biharmonic equation. . In Cartesian coordinates it is given by. Elasticity theory is . a mathematical model of material deformation. Using principles of continuum mechanics, it is formulated . in terms of many different types of . field variables specified at spatial points in the body under study. Some examples include:. Chapter 5. Outline. The Elasticity of Demand. Applications of Demand Elasticity. The Elasticity of Supply. Applications of Supply Elasticity. Using . Elasticities. for Quick . Predictions . Appendix . AP Microeconomics. Mr. Bordelon. Which of the following best describes price elasticity of demand?. Price elasticity of demand measures the responsiveness of the change in the quantity demanded to a change in price.. ECONOMICS. and. MICROECONOMICS. Paul Krugman | Robin Wells. What is the definition of . elasticity?. What is the meaning and importance of:. price elasticity of demand?. income elasticity of demand?.