6) a. Given that f is a differentiable function of x, show that the following notation of elasticity of a function El(f) = d(ln(f))/dx / d(In x)/dx corresponds with the definition of elasticity of a function f. b. Given that f and g are differentiable functions of x, prove that the elasticity of the product, Elx(f/g) = Elx(f) − Elx(g) c. Using part (b) above or otherwise calculate the following elasticity with respect to x, Elx (x−1/x5+1)

6) a. Given that f is a differentiable function of x, show that the following notation of elasticity of a function El(f) = d(ln(f))/dx / d(In x)/dx corresponds with the definition of elasticity of a function f. b. Given that f and g are differentiable functions of x, prove that the elasticity of the product, Elx(f/g) = Elx(f) − Elx(g) c. Using part (b) above or otherwise calculate the following elasticity with respect to x, Elx (x−1/x5+1)

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 1.1P: (Calculating Price Elasticity of Demand) Suppose that 50 units of a good are demanded at a price of...

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