EconixaECONOMICS FUNDAMENTALS

Interactive calculator

Exchange Rate Converter

Enter an amount in one currency and the exchange rate to convert it to another. The tool also computes percentage changes in the rate so you can tell appreciation from depreciation — for example, if euros per dollar rise from 0.90 to 0.95, the dollar appreciated about 5.6%. In this release this page is powered by the closest available interactive widget; a dedicated widget for this topic is planned.

Price Elasticity of Demand

Midpoint (arc) formula

Elasticity E = -1.500
Elastic (|E| > 1)
Steps
  1. Average quantity: (Q₁ + Q₂) ÷ 2 = (100.00 + 140.00) ÷ 2 = 120.00
  2. %ΔQ = (Q₂ − Q₁) ÷ avg Q = 40.00 ÷ 120.00 = 0.3333 (33.33%)
  3. Average price: (P₁ + P₂) ÷ 2 = (10.00 + 8.00) ÷ 2 = 9.00
  4. %ΔP = (P₂ − P₁) ÷ avg P = -2.00 ÷ 9.00 = -0.2222 (-22.22%)
  5. E = %ΔQ ÷ %ΔP = 0.3333 ÷ -0.2222 = -1.500
  6. Classification by |E| = 1.500: elastic — quantity responds more than proportionally to price.
Why the midpoint?

Using averages as the base removes the direction problem: going from P₁ to P₂ gives the same magnitude as going from P₂ to P₁. The negative sign just reflects the law of demand — classification uses the absolute value.

How to use it

  1. Enter the amount and the exchange rate.

  2. Read the converted amount.

  3. Enter two rates to compute appreciation or depreciation.

What you will learn

  • Convert amounts between currencies.
  • Compute currency appreciation and depreciation.
  • Explain who gains from a stronger currency.