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It is about elasticity but I don't know to how to solve the questions here 8. (a) If E denotes the elasticity of a general
It is about elasticity but I don't know to how to solve the questions here 8. (a) If E denotes the elasticity of a general supply function, Q = f(P), show that the elasticity of: (i) Q = [(P)]" is nE (ii) Q = f(P) is E (ii) Q = x + f(P) is f(P)E I 1 + f(P) where n and I are positive constants. (b) Show that the elasticity of the supply function Q = P is 1 and use the results of part (a) to write down the elasticity of (i) Q =p (ii) Q = 10PP (iii) Q = 5VP - 2
It is about elasticity but I don't know to how to solve the questions here
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