# What is elasticity calculus?

**elasticity**refers to the responsiveness of an economic variable to changes in another economic variable. The

**elasticity**of Y with respect to X is the ratio of the percentage change in Y to the percentage change in X.

Hereof, how do you find elasticity in calculus?

**How to Calculate Price Elasticity of Demand with Calculus**

- Take the partial derivative of Q with respect to P, ∂Q/∂P. For your demand equation, this equals –4,000.
- Determine P
_{0}divided by Q_{0}. Because P is $1.50, and Q is 2,000, P_{0}/Q_{0}equals 0.00075. - Multiply the partial derivative, –4,000, by P
_{0}/Q_{0}, 0.00075. The point price elasticity of demand equals –3.

Also Know, how do you calculate cross price elasticity of demand in calculus? In the case of **cross**-**price elasticity of demand**, we are interested in the **elasticity** of quantity **demand** with respect to the other firm's **price** P'. Thus we can use the following **equation**: **Cross**-**price elasticity of demand** = (dQ / dP')*(P'/Q)

In this regard, how is elasticity of demand calculated?

The price **elasticity of demand** is **calculated** as the percentage change in quantity divided by the percentage change in price. Therefore, the **elasticity of demand** between these two points is 6.9%−15.4% which is 0.45, an amount smaller than one, showing that the **demand** is inelastic in this interval.

What is P times Q mean?

Total revenue is the total receipts a seller can obtain from selling goods or services to buyers. It can be written as **P** × **Q**, which is the price of the goods multiplied by the quantity of the sold goods.