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  # Economics Maths - Interesting Calculus watch
  
  1. Just had an economics lesson with my mathematically inept teacher
  
  We were discussing how price elasticity is calculated along a demand curve.
  
  If we have a demand function (lets just keep it linear)
  
  Which is just like
  
  Where price is depandant upon consumption. If we rearrange to make Consumption the subject as to make calculating Elasticity easier as it is in terms of price not consumption.
  
  So we want to do a kind of differentiation
  
  Elasticity = with respect to
  
  Is this correctish?
  2. By the looks of it, you want , and since this can be evaluated fairly easily. Also, and don't actually mean anything What were you trying to do?
  3. (Original post by nuodai)
  Also, and don't actually mean anything What were you trying to do?
  I think it was a clumsy attempt to represent a percentage change e.g. (change in value ÷ original value) x 100.
  4. (Original post by Mr M)
  I think it was a clumsy attempt to represent a percentage change e.g. (change in value ÷ original value) x 100.
  Yep
  
  What I am looking for is
  
  for a linear function
  5. (Original post by turn and fall)
  Just had an economics lesson with my mathematically inept teacher
  
  We were discussing how price elasticity is calculated along a demand curve.
  
  If we have a demand function (lets just keep it linear)
  
  Which is just like
  
  Where price is depandant upon consumption. If we rearrange to make Consumption the subject as to make calculating Elasticity easier as it is in terms of price not consumption.
  
  So we want to do a kind of differentiation
  
  Elasticity = with respect to
  
  Is this correctish?
  Yes but the used form of it is:
  
  that is the first derivative of the demand by price at the given point
  multiply by the priice of the unit demand (quantity) at the given point.
  6. (Original post by ztibor)
  Yes but the used form of it is:
  
  that is the first derivative of the demand by price at the given point
  multiply by the priice of the unit demand (quantity) at the given point.
  Lovely - that is precisely what I got doing it on paper
  
  is elasticity of demand right?
  7. (Original post by ztibor)
  Yes but the used form of it is:
  
  that is the first derivative of the demand by price at the given point
  multiply by the priice of the unit demand (quantity) at the given point.
  What this guy said. To bad you'll never touch any of this on your Economics course
  8. (Original post by yoyo462001)
  What this guy said. To bad you'll never touch any of this on your Economics course
  I try to make it interesting.
  
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explanation: The document is a discussion thread from a forum, specifically about the calculation of price elasticity in economics using calculus. The original poster (OP) describes a scenario where they are trying to calculate price elasticity of demand using a linear demand function and asks if their approach is correct. Other users respond with corrections and clarifications.
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   You are Here: Home >< Maths
  
  # Economics Maths - Interesting Calculus watch
  
  1. Just had an economics lesson with my mathematically inept teacher
  
  We were discussing how price elasticity is calculated along a demand curve.
  
  If we have a demand function (lets just keep it linear)
  
  Which is just like
  
  Where price is depandant upon consumption. If we rearrange to make Consumption the subject as to make calculating Elasticity easier as it is in terms of price not consumption.
  
  So we want to do a kind of differentiation
  
  Elasticity = with respect to
  
  Is this correctish?
  2. By the looks of it, you want , and since this can be evaluated fairly easily. Also, and don't actually mean anything What were you trying to do?
  3. (Original post by nuodai)
  Also, and don't actually mean anything What were you trying to do?
  I think it was a clumsy attempt to represent a percentage change e.g. (change in value ÷ original value) x 100.
  4. (Original post by Mr M)
  I think it was a clumsy attempt to represent a percentage change e.g. (change in value ÷ original value) x 100.
  Yep
  
  What I am looking for is
  
  for a linear function
  5. (Original post by turn and fall)
  Just had an economics lesson with my mathematically inept teacher
  
  We were discussing how price elasticity is calculated along a demand curve.
  
  If we have a demand function (lets just keep it linear)
  
  Which is just like
  
  Where price is depandant upon consumption. If we rearrange to make Consumption the subject as to make calculating Elasticity easier as it is in terms of price not consumption.
  
  So we want to do a kind of differentiation
  
  Elasticity = with respect to
  
  Is this correctish?
  Yes but the used form of it is:
  
  that is the first derivative of the demand by price at the given point
  multiply by the priice of the unit demand (quantity) at the given point.
  6. (Original post by ztibor)
  Yes but the used form of it is:
  
  that is the first derivative of the demand by price at the given point
  multiply by the priice of the unit demand (quantity) at the given point.
  Lovely - that is precisely what I got doing it on paper
  
  is elasticity of demand right?
  7. (Original post by ztibor)
  Yes but the used form of it is:
  
  that is the first derivative of the demand by price at the given point
  multiply by the priice of the unit demand (quantity) at the given point.
  What this guy said. To bad you'll never touch any of this on your Economics course
  8. (Original post by yoyo462001)
  What this guy said. To bad you'll never touch any of this on your Economics course
  I try to make it interesting.
  
  Turn on thread page Beta
  TSR Support Team
  
  We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.
  
  This forum is supported by:
  Updated: September 30, 2010
  Today on TSR
  
  ### Complete university guide 2019 rankings
  
  Find out the top ten here
  
  Poll
  Useful resources
  
  ## Make your revision easier
  
  ### Maths Forum posting guidelines
  
  Not sure where to post? Read the updated guidelines here
  
  ### How to use LaTex
  
  Writing equations the easy way
  
  ### Study habits of A* students
  
  Top tips from students who have already aced their exams
  
  Can you help? Study help unanswered threads
  
  ## Groups associated with this forum:
  
  View associated groups
  
  The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.
  
  Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE
distilabel_metadata.role: user
distilabel_metadata.raw_output_q_a_detector_0: The document is a discussion thread from a forum, specifically about the calculation of price elasticity in economics using calculus. The original poster (OP) describes a scenario where they are trying to calculate price elasticity of demand using a linear demand function and asks if their approach is correct. Other users respond with corrections and clarifications.
  
  Label: question-and-answer