coefficient of elasticity (Meaning)

Wordnet

coefficient of elasticity (n)

(physics) the ratio of the applied stress to the change in shape of an elastic body

No Synonyms and anytonyms found

The coefficient of elasticity, often denoted by "E," measures the responsiveness of a quantity to a change in another variable.
Economists use the coefficient of elasticity to analyze how changes in price or income affect consumer demand for goods and services.
The coefficient of elasticity helps businesses understand the sensitivity of consumer demand to changes in price.
In economics, the price elasticity of demand is a commonly studied coefficient of elasticity.
A high coefficient of elasticity indicates that a small change in price leads to a large change in quantity demanded.
Conversely, a low coefficient of elasticity suggests that changes in price have minimal impact on consumer demand.
The coefficient of elasticity can also be applied to other variables, such as income elasticity, to measure changes in demand in response to income changes.
Engineers use the coefficient of elasticity to characterize the deformation of materials under stress.
In physics, the coefficient of elasticity is crucial in studying the behavior of materials subjected to mechanical forces.
By understanding the coefficient of elasticity, policymakers and businesses can make informed decisions to manage resources and markets effectively.

(physics) the ratio of the applied stress to the change in shape of an elastic body

No synonyms found.

No antonyms found.

The coefficient of elasticity, often denoted by "E," measures the responsiveness of a quantity to a change in another variable.

Economists use the coefficient of elasticity to analyze how changes in price or income affect consumer demand for goods and services.

The coefficient of elasticity helps businesses understand the sensitivity of consumer demand to changes in price.

In economics, the price elasticity of demand is a commonly studied coefficient of elasticity.