The elasticity of a function f: is defined to be In general, the elasticity varies with x.

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The elasticity of a function f: „œ †’ „œ is defined to be

In general, the elasticity varies with x. Show that the elasticity of a function is constant if and only if it is a power function, that is,
f (x) = Axa

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Foundations of Mathematical Economics

ISBN: 978-0262531924

1st edition

Authors: Michael Carter

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Question Posted: May 02, 2016 11:51 AM

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The elasticity of a function f: is defined to be In general, the elasticity varies with x.

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E(x) f(x)

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If 1 and To show that this is the only function wi...View the full answer

Foundations of Mathematical Economics

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