question
Elasticity of demand function
answer
-p x f'(p) / f(p)
question
Cost function using marginal cost function
answer
C(x)=Sc'(x)
question
Area between 2 curves
answer
S (top-bottom)dx
question
0<E(p)<1
answer
Inelastic
-demand is unresponsive to price change
-(change in demand is small)
-demand is unresponsive to price change
-(change in demand is small)
question
E(p)>1
answer
Elastic
-demand responsive to price change
-change in demand large
-demand responsive to price change
-change in demand large
question
E(p)=1
answer
unit elasticity
-demand change same as price change
-demand change same as price change
question
Integration by parts function
answer
uv-Svdu
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